Source Pravda.Ru

Analyst expects no impact of elections on stock market

The Russian parliamentary elections will not have a significant impact on the domestic stock market, Alexander Bokhin, an expert with Aton Capital, announced in an interview on RBC TV. In the end, the market is influenced by the economy and not politics, he said. Unless we see some serious events, the market is expected to increase gradually until the end of 2003. The expert explained that a lot of Russian banks had purchased domestic shares, and they were interested in stock prices remaining at high levels. Another factor is that marketers who wanted to take profit on the YUKOS scandal have already done it. In other words, all players favor a rising market. Currently, the domestic stock market ignores negative news and rises on any positive events, the analyst concluded.