Steady growth in prices reported on Russian stock market

Prices of shares in Russian companies are rising steadily. The prices of RAO UES and YUKOS shares grew by almost 1.5 percent on the Russian Trading System as of 1:30 p.m. LUKoil shares rose by over 2.5 percent, and the price of Surgutneftegas shares also grew by more than 2.5 percent. The leaders of the growth are Sibneft shares, whose price has increased by 6 percent. The RTS index rose by 2.37 to the level of 679.99 points as of 1:30 p.m. The situation on MICEX has been calmer, and prices of most blue chips have risen by 1 percent on average.

In the opinion of analysts, some balance is being restored on the market, following a sharp reaction to negative news about YUKOS, and the situation is likely to be relatively stable before the end of this week. One could expect some decrease in prices only on Friday, April 30 amid profit taking by investors wishing to protect themselves from negative news that could emerge during the weekend.

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