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Russian stocks ease at opening
RBC, 17.11.2008, Moscow 11:53:35.Russian shares declined somewhat at the opening today, as the MICEX index edged down 0.5 percent to 589 points and the RTS index fell 1.6 percent to 633 points. On MICEX, Gazprom lost 2 percent, while Rosneft and VTB eased more than 1 percent. Trade is likely to be volatile on the Russian market today, experts told RBC TV. Shares are expected to continue consolidating at their current levels, analysts say, adding that they may fall between 1.2 and 1.5 percent during the day. Meanwhile, corporate news in certain sectors could cheer the market. Analysts also point out that Russian stocks could be affected by the negative dynamics of U.S. indices last Friday. Experts believe that the results of the G20 summit have had no impact on Russian stocks, adding that oil and gas company shares may look worse than the market today, pushed lower by the current fall in global oil prices. At the same time, the publication of U.S. industrial index scheduled for 4:30 p.m. and Eurozone trade balance data may be important for the Russian stock market today.
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