Source Pravda.Ru

Upward tendency may continue on Russian stock market

An upward tendency has remained on the Russian stock market over the pastthree weeks, an expert of a commercial bank said in an interview with RBC.This tendency is promoted by the correction on Western markets and a stableadvance in world oil prices. This situation is likely to continue in thenear future. "LUKoil's shares look better than other securities. Today itsshare prices were higher than RUR524 per share ($16.6). In the near futureone can expect them to grow to the level of 540-545 rubles ($17.6-17.27)per share. RAO UES securities are going up at a less impressive pace. Thegrowth is accompanied by deep corrections and the volume of trade is notlarge. There is a possibility for another correction to 2.97 rubles($0.094) in the near future. If an advance resumes, we may see the RUR3.3level ($0.105) and then the RUR3.6 ($0.114) level", the expert believes. .