Russian stocks inch lower

Russian stocks opened mostly lower. On the MICEX exchange YUKOS and Norilsk Nickel lost 1.5 percent after the opening. RAO UES shed 1 percent. Other blue chips decreased 0.5 percent. Analysts foresee a negative mood as investors are waiting for US data on job recovery in April. If the US economy has added more jobs, this might move the Federal Reserve System closer to raising interest rates and spur a massive selling of Russian stocks. Investors are likely to take their profits before holidays to diminish risks. The trade volume is low these days. Taking into account general downward trend on global stock markets, one should not expect an active buying today. But on the other hand, demand for oil is high and oil prices grow, that is why oil companies might benefit this situation and stable, according to analysts.

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Author`s name Editorial Team