Source Pravda.Ru

Russian Stock Market Opens with Rise

The Russian stock market opened with a confident rise in the majority of blue chips today. These positive sentiments of domestic traders were caused by growing dynamics of western stock indices, which enjoyed a rise on May 2. As a result, shares of the Russian national energy grid RAO UES gained more than 1.5 percent in the first several minutes on MICEX. YUKOS and LUKoil saw a similar rise while a downward correction started for shares of the Moscow energy utility Mosenergo after an increase in these securities observed before the May holidays.

According to forecasts of analysts, the RTS stock index will consolidate above 420 points today and no significant changes in share prices should be expected.