NEWS & EVENTS: Breaking News
12.12.2005 17:46
Dec 12. In intraday stock market updates, the rally is gaining traction
Most blue chips have been heading north on the Russian stock market since the beginning of the new week. Gazprom (+2.5%) and Sberbank prefs (+3.3%) have been the frontrunners in today's session. Although volumes are weak, the upbeat trend has showed no signs of abating. The market has been attempting to climb higher on the back of rising crude prices, which is reverses the downturn and sends a signal that we could see more aggressive spikes in commodities. Before long, we believe that a modest uptrend will likely challenge to break through the 1,100 mark on benchmark RTS.
Alexander Pavlyuchkov, Asset Manager, Finam Investment Company
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