Russian Market: Quotes Slowly Climb Following Oil Prices

The Russian stock market managed to avoid a serious drop despite a number of negative foreign factors thanks to oil. Alarms on the creditability of the economies of Ireland, Greece and Portugal together with the concern over the Korean conflict led to a decrease of market activity.

The leading RTS Index gained 0.64% during November, reaching 1,597.35 points. In November 2010 RTS volumes were down 3.12% over the previous month. Total RTS Exchange and OTC market activity decreased to USD45.50 billion during November 2010.

However, activity on Futures and Options on RTS (FORTS) during November grew by 3.79% totaling 65.7 million contracts compared with October 2010.

Full statistics are provided in the accompanying tables.