Analysts recap situation on MICEX - 6 October, 2003

Russian stocks were steadily rising at the opening of MICEX on Friday when the MICEX index reached 545 points. Later, a correction began, triggered by fears of profit-taking ahead of the weekend. Nevertheless, the MICEX index closed at its historic high of 535.8 points. Blue chips were fluctuating with no solid tendency. LUKoil stepped up 3.73 percent, Norilsk Nickel 1.28 percent and Sberbank 0.65 percent. Meanwhile, RAO UES dropped 1.65 percent, Surgutneftegas 0.1 percent and YUKOS 1.18 percent. The volume of trade totaled RUR17.9bn (about $590m), which is twice as much as the average daily trading volume for the previous week.

Experts believe that today a correction is possible but will not be significant.