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Russian stocks trading higher
RBC, 05.12.2005, Moscow 11:47:21.Most shares opened higher on the Russian stock market on Monday, December 5. The growth can be attributed to an increase in oil prices and the positive close of the New York ADR market. Almost all blue chips surged by up to 1 percent within the first minutes of trade on the MICEX Stock Market. Gazprom went up by 0.7 percent. The Russian stock market is in a positive mood, and companies running no political risks are expected to continue growing today. Industry watchers also say that the Russian stock market is likely to advance throughout the week due to the positive mood of investors and high ruble liquidity. The stability on foreign financial markets and expectations of the New Year rally have contributed to the rise as well. At the same time, analysts regard the oil price as a potentially negative factor, which can undermine the growth should it decline. Towards the end of the week the growth can be arrested by a short-term decline in demand induced by the possible increase in the US Federal Reserve rate, traders say.
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