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Russian stocks fall in afternoon trading

      RBC, 30.06.2008, Moscow 15:58:39.The Russian stock market was sliding in the afternoon. Around 3 p.m., the RTS index was down 0.8 percent at 2,300.16 points and the MICEX index was down 1.08 percent at 1,746.75 points. The trade volume topped USD 24m on the RTS and RUB 30.6bn (approx. USD 1.3bn) on MICEX.

      The Russian market's sideways trend could continue, experts told RBC TV today. The rise in liquidity is expected to be neutralized by negative foreign news. Analysts believe that the RTS index will fluctuate between 2,250 and 2,350 points in July. The market's dynamics will be clearer once certain US companies have released their financial statements, experts say. At the same time, some analysts point out that there is little hope for a global economic recovery and that Russian stocks may keep falling in July. However, the decline is unlikely to continue throughout the third quarter, experts conclude.

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