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Russia’s Market Has the Shooting Potential

January 18, 2008 | www.kommersant.com

Investors on Russia’s stock market would better avoid making any abrupt moves, Vladimir Popov from Antanta Capital recommended in the air of RBC-TV.

With such high volatility and uncertainty, any abrupt movements of investors would be hardly desirable for the stock market in Russia, Vladimir Popov said, pointing out that the country’s floors appear rather solid against sinking markets of the West.

The investors, particularly the foreign ones, may take it as a positive signal. Russia’s market may shoot once the decline on the U.S. market ends, Popov forecasted urging the players to cut positions a bit but generally avoid any aggressive actions.

The root cause of the current movement on Russia’s market is investors’ apprehension of the profit loss, explained Kapital analyst Dmitry Yakovlev. “The more the investors’ fear to lose or get the deficient profit prevails over other [fears], the more stable the stock market of Russia will be.”

Russia’s market suffered hefty losses yesterday and the decline has continued today. RTS index sank 0.33 percent to 2,218.12 as of 11:35 a.m., MSK. RAO UES of Russia shed 0.77 percent, but GMK Norilsk Nickel grew 0.04 percent. MICEX lost 0.16 percent to 1,836.12. RAO UES of Russia stepped up 0.09 percent, VTB rose 0.61 percent, LUKOIL grew 0.26 percent. Gazprom Neft sank 0.01 percent, but Gazprom Neft sank 0.01 percent.

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