Source Pravda.Ru

Slight upsurge expected on Russian stock market

The Russian stock market is likely to move upwards very carefully today. A tender for the Belarusian stake in Slavneft and world oil prices will be in the center of attention today. The government of Belarus is supposed to make a decision, whether to sell its 10.83-percent stake in the oil giant to the only bidder - Slavneft - or postpone the tender. It is possible that new oil companies will decide to participate in auctioning off the stake later today. The postponing of the auction serves as negative news for the stock market, which is known to have started correction on November 22, experts say. That day, the market failed to end the week positively, despite a quite stable growth on Friday morning. Most securities were affected by the process of fixing profits that started in the afternoon on November 22. As a result, the RTS index lost 0.96 percent by the close. The total trade volume was reported as equal to $13.79m. The MICEX index managed to stay positive as it gained an additional 0.13 percent, with the trade volume reaching 5.1bn rubles ($160.21m).

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