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Russian stocks trading mixed in afternoon
RBC, 15.05.2008, Moscow 15:57:59.The Russian stock market was demonstrating no defined trend in afternoon trade. As of 3 p.m., the MICEX index was up 0.39 percent at 1,911.71 points and the RTS index was up 0.48 percent at 2,417.53 points. Among MICEX's gainers were Gazprom Neft (up 6.36 percent), Uralsvyazinform (up 2.82 percent), and Tatneft (up 3.7 percent). Meanwhile, Surgutneftegas fell 2.02 percent, Rosneft declined 2.22 percent, and LUKoil inched down 0.19 percent. The outlook for the Russian stock market remains positive at the moment, experts told RBC TV today, adding that Russian stocks continued their long-term upward trend. While technical corrections are possible, the market will climb gradually, and the banking sector will also follow the general dynamics, analysts note. However, some experts believe that the Russian market looks somewhat overheated and that yesterday's record rise in the oil and gas sector will be followed by a downward correction. Meanwhile, the RTS index is unlikely to drop below 2,300 points, analysts say.
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