Russian stocks showing no clear tendency

Most of the blue chips are fluctuating with no clear tendency on the Russian stock market today. RAO UES plummeted 2.3 percent, while the Russian savings bank Sberbank jumped by more than 2 percent. LUKoil and Surgutneftegas surged as well.

Analysts believe that during the last day of this short business week in Russia, the market is likely to maintain its sideways trend amid the low activity of investors. The volume of short positions is too small to affect the Russian stock market's dynamics, with the exception of energy stocks. Today's meeting of members of the Organization of the Petroleum Exporting Countries (OPEC) is also unlikely to exert any tangible influence on the Russian stock market today.

According to analysts, the Russian stock market will resume its upward trend after the correction.

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Author`s name Editorial Team