Russian stocks shoot up yesterday

The MICEX market showed powerful growth yesterday. The MICEX index totaled 516.03 points, up 2.67 against September 26. Blue chips stepped up: RAO UES by 1.94 percent, LUKoil 4.61 percent, YUKOS 1.74 percent, Surgutneftegas 2.78 percent, Norilsk Nickel 3.4 percent, Rostelecom 3.07 percent and Sberbank 1.51 percent. The volume of trade amounted to nearly RUR10.3bn ($340m), which is 13 percent higher compared to the average daily trading volume for the previous week.

Positive sentiments prevailed on the Russian stock market yesterday, which was mainly due to positive news in the oil sector. Experts believe in the near future these sentiments will remain high, and in the next quarter the ruble deficit will be alleviated.