Analysts comment on July's results of Russian stock trade

The Russian stock market closed higher on the last day of July. Yesterday, the market showed a steady rise although trade volumes were small. According to Kiril Tremasov, an analyst with the Bank of Moscow, in July the Russian stock market brought dramatic results. In the reported period, the RTS index dropped 9.2 percent, YUKOS plummeted 16.6 percent becoming the past month's worst performing stock. Norilsk Nickel, Gazprom and RAO UES had a positive trend unlike the rest of the market. Among the few other gainers were Tatneft (after June's collapse) and interregional telecommunications companies that have been sought after by strategic investors.