Analysts comment on stock market

Analysts say that yesterday's declines on the Russian stock market were due to the YUKOS case. Debates about the Russian system of taxation and political ambitions of major shareholders of the company resulted in the YUKOS crisis. That YUKOS might go bankrupt seems to be a possible scenario now. But the YUKOS case is not a factor determining the broader market trend. The positive environment and attractiveness of Russian assets back the Russian market. The gold and currency reserves of the Russian Central Bank have been growing for a third straight week, and this situation results in higher capitalization of Russian companies and lower interest rates on certain financial instruments. Analysts consider the YUKOS case to be an individual one.