Russian stock market opens mixed

There was no common tendency at the opening of trade on the Russian stock market. On MICEX, RAO UES, Norilsk Nickel and LUKoil increased, however Rostelecom and Sberbank opened lower. Mosenergo plummeted more than 30 percent on MICEX. According to analysts, speculative play continues in this market sector. The market will possibly try to go down again today but growth in oil prices and positive corporate news may hinder this.

The resumption of Mosenergo trade may stimulate a decline on the Russian market, an expert with Rosbank said. At present, all market participants are unanimously speaking about a correction but the indices are still growing. Nevertheless, due to the fact that optimism about future growth is disappearing, a correction is likely to happen, the expert believes.

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Author`s name Editorial Team