Source Pravda.Ru

Analysts foresee upward trend on Russian stock market

Analysts foresee an upward trend on the Russian stock market, despite recent news about new searches in YUKOS office and on a notice of a potential default on a $1.6bn debt, received by the company. YUKOS securities have slumped, but this wide sell-off was just the first reaction.

The news about searches in YUKOS headquarters do not affect investors' mood, therefore, one should expect a moderate increase. Analysts foresee the RTS index's strengthening to 630-640 points.