Source Pravda.Ru

Russian stocks continue declining led by oil stocks

Russian stocks are continuing to decrease steadily today. The leaders interms of decline at the Russian Trading System (RTS) were oil stocks:within the first 1.5 hours Sibneft's stocks lost 4 percent, YUKOS - down3.68 percent, LUKoil - down 2.53 percent. The activity of the trade sessionwas pretty high, since the trade volume at the RTS currently runs at $6m.According to analysts, the market is beginning to react to the news fromthe world market, although a bit too late. One should not dismiss the factthat foreigners have started to sell a number of Russian blue chips moreaggressively. The RTS index is falling: it posted a decrease of 2.53percent to 338.76 points by 13:00. On the whole, the situation on theRussian stock market is currently characterized by a void of fresh ideas,and both traders and investors are keeping their eyes on the events in theUS and the world oil markets. .

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