Russian stock market stabilizing

The situation on the Russian stock market has stabilized. Andrei Rozhkov, an analyst with Capital investment group, said the RTS index grew on Thursday by 0.31% to 585.15 points. Investors still want to know what Yukos and the Tax Ministry decide on the mechanism for the oil major to repay its debts. Yukos shares were up slightly (+0.63%), but it was a short-lived rise because the ministry made public its new claims to the company.

The decision of the U.S. Federal Reserve System to raise the discount rate by 25 basic points did not come as a surprise and hence did not have a negative effect on the market. Rozhkov believes that in the next few days the Russian stock market will grow because the new quarter has begun and the volume of liquidity on the market is increasing.