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Russian stocks to bounce back after consolidation
RBC, 02.10.2008, Moscow 17:59:19.The Russian stock market will rebound after consolidating, analysts believe. The market is currently consolidating around 1,150-1,300 points on the RTS index, which eases investor jitters and lowers the likelihood of sales and withdrawal by private investors. The market has been on the rise, and blue chips are enjoying a demand. Sberbank was just one example cited by investors, having changed its credit conditions beginning in October, which, it expects, will prove beneficial. However, there is no single, definitive mood on Russian trading floors, although many instruments have been struggling towards positive territory. Today, U.S. labor market data are to be released, which traditionally have a considerable impact on Russian stocks. The MICEX index is virtually unchanged from yesterday's close, fixed at 1,017.14 points, while the RTS index lost 0.15 percent, reaching 1,187.31 points.
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