Source Pravda.Ru

2003 begins with rise on Russian stock market

Share prices have begun to rise on the Russian stock market on the first day of trade in 2003. A steady increase in US stock induces during the trade on January 2 and a resumption of growth in oil prices have inspired traders coming back to business after the New Year holiday. As a result, the price of RAO UES shares was up 1.36%, the price of LUKoil shares increased by 1.3%, and the price of Sberbank shares rose by 2% during the first hour of trade. In general, traders will certainly be in the New Year mood today, since there is no trade at western exchanges on the weekend. To all appearances, optimistic Russian brokers who have chosen to work between the holidays will continue to push prices upward.