Source Pravda.Ru

Russian stocks open slightly higher

Although US stock indices and oil prices eased back, the Russian stock market opened with a slight increase in the majority of highly liquid shares. The market probably tried to correct after yesterday's fall, however it has failed to perform a confident growth. However, at MICEX, shares of YUKOS, Surgutneftegaz and RAO UES added 0.5-1 percent in the first minutes of the trade.

Analysts point out that securities of Russian companies have dropped at the UTS and MICEX over the past several days, however, on the whole, it seems that the market has turned out to be firm enough, as only 7-8 blue chips have eased back seriously. Experts believe that the correction is not over yet, because active sales of shares of some oil companies (Surgutneftegaz, Tatneft and Sibneft) may testify to the beginning of a more serious correction.

At the same time, according to preliminary forecasts, there should not be a strong decrease in share prices, as the market is quite dense. There are a lot of buyers who are just waiting for an opportunity to invest their resources. However, if the current support level of 330 points of the RTS index is broken through, operators will be able to form a new support level only near 300-310 points of the RTS index.

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