YUKOS becomes best gainer on Russian stock market

Most Russian stocks have been enjoying a slight rise. The RTS index grew 0.92 percent to 459.29 points as of 14:00 Moscow time amid the high activity of investors. The volume of trade totaled over $11m. YUKOS has been the best performer on both MICEX and the RTS with a 5.15-percent and a 4.65-percent gain respectively. According to Sergey Suverov, an analyst with the Russian commercial bank Zenit, in the near future YUKOS stocks will be mostly driven by news on ChevronTexaco pursuing a 25-percent stake in YUKOS.

Other analysts say that middle-term speculators do not hurry to load up on stocks due to seasonal factors as August and September are the most disadvantageous months for stock trading. At present, the Russian stock market is opened up for minor investors who are contributing to the neutral trends.

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