Source Pravda.Ru

Russian stocks tumbling amid negative news from world markets

The trade session on the Russian stock market opened with a decline acrossthe board of highly liquid stocks. According to traders, negative news fromthe US stock market and a sharp fall in oil prices could not help takingtheir toll on investor sentiments. As a result, within the first fewminutes of the trade session at the Moscow Interbank Currency Exchange(MICEX) the prices for blue chips tumbled 1-1.5 percent. On the other hand,no considerable fall in stock prices is expected today and the tradeactivity will be minimal. Specialists were quoted as saying Russian oilstocks may be propped up by price correction that is currently taking placeon the world energy carriers market. On the whole, the Russian stock marketwill be waiting for the release of macroeconomic data in the US, which maypartially have a positive impact on investor sentiments, traders stressed..