Wednesday, June 1, 2011

Weakening ruble Russian stocks push upwards

The Russian stock market opened on Friday the growth due to improving external environment and a new weakening of the ruble Bank of Russia. By 10:45 Moscow time the index of the MICEX gained 2.9%, reaching 623.27 points. RTS index rose 0.67% to 572.93 points. On the MICEX rising shares of Polyus Gold (4.3%), LUKoil (4.1%), Rosneft (2.5%), Gazprom (2.9%) Norilsk Nickel (3.1%), Sberbank (1.8%). Rebound shares up after falling on the eve was a consequence of lifting the indices in the U.S. and stabilize oil prices. U.S. stock indexes rose on Thursday on expectations of Bank of America get government assistance. On Friday, futures for U.S. indices continue to rise on average by 1%. Analyst "VTB 24" Stanislav Kleshchev believes that the best rise again may demonstrate the "heavyweights" from the oil industry, while the outsider of the market, as yesterday, the shares will become RBC - according to media reports, if you can not negotiate with creditors, the company already in February will not be funds for ongoing activities. "Given the high probability of bankruptcy of the company we recommend getting rid of RBC shares. If you want to take on the risks of this company - it's better to buy their bonds traded at 20% of the nominal value than stocks," - he said.

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