The influx of foreign investments shelters the Russian stock market from long-awaited correction, Yevgeny Sotnikov, an expert with Aton Capital, announced in an interview with RBC TV today. Major western foundations continue to put money into the Russian economy. According to the expert, growth in stock prices is also favored by the strengthening of the ruble that makes Russian banks invest more in domestic stocks.
The Russian stock market will continue growth tomorrow, but as every Friday it is usual for operators to lock in profits the RTS index is unlikely to go over its historic high on that day. In the long run, this is possible as investors have a good deal of funds on hand, the expert believes.
The General Staff noted that the document appeared at a time when Russia was trying to deter the arms race unleashed by the United States