Zee Beam News

MOSCOW, May 7, 2009 (RIA Novosti) - Russia's two main stock exchanges, MICEX and the RTS, demonstrated strong share growth on Thursday, with their key indexes rising above psychologically important levels. As of 6: 00 p.m. Moscow time (14:00 GMT), the index of the ruble-denominated MICEX had climbed 5.52% from Wednesday's close to above the psychologically important level of 1,000 points to 1,040.52 points, while the index of the dollar-denominated RTS had risen 5.04% to close beyond the benchmark level of 900 points at 942.31 points. Analysts say that the Russian stock market's rally can be attributed to signs of improvement in the situation on global financial markets, rising world oil prices and the return of foreign investors to Russian stock exchanges.