No grounds for stock market growth, Eurogreen says

14 April 2009 (08:01)

‘It could be that the current stock market uprising is a false start, since this increase actually looks a little threatening. There are no economic grounds for the improvements at the moment, so the market is fed by rumors and gossip, like the one about the U.S. allegedly planning to buy the ‘infected’ assets. The Russian stock market has no fundamental support whatsoever, so there is no good reason for it to be growing now,’ Eurogreen Investment & Finance Company’s GD Evgeniy Kostarev said to an UrBC reporter.

‘I think the market will drop a little again,’ he added.

In the meantime, the RTS index has recently risen above 880, whereas the MICEX one exceeded 900 a few days ago.

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