Leah Industries, Inc. (OTC-BB-LEAH) Message Board

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Microcap & Penny Stocks : Leah Industries, Inc. (OTC-BB-LEAH)

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To: RLM who wrote (71)	5/26/1999 2:14:00 PM
From: Baldur Fjvlnisson	of 2153

Russian shares gain by close, optimism prevails MOSCOW, May 26 (Reuters) - Russian shares shrugged off early losses to end with moderate gains on Wednesday as investor confidence in the country's medium-term prospects prevailed over fears about political and economic stability. Prices on the key RTS1-Interfax share index <.IRTS>, covering the main over-the-counter trade, added 1.30 percent to close at 99.90 on an average volume of $9.5 million while the broader Reuters composite <.RRC1> tacked on 1.84 percent to end at 289.22 after fallen to a low of 276.93. "There aren't a whole lot of sellers on the market. We've got a lot behind us. The GKO (t-bill) restructuring is done...and we've a new government in place," said Brunswick Warburg trader Loren Bough. "It may not be the best one, but it is enough to keep the country functioning. He said that despite turbulence the last few weeks, which saw one government sacked and a new one slowly put together, investors were buying, confident of gains in the medium term. Confusion over the government continued, with rumours emerging that newly-appointed First Deputy Prime Minister Mikhail Zadornov was unhappy with his powers in the government and that new Finance Minister Mikhail Kasyanov would also refuse his post. The latter rumour was denied by the finance ministry. "Some people were set to see the market slide today after Russian stocks closed down about 12 percent yesterday in New York," Bough said. "But strong domestic interest and foreign buying overcame that negative sentiment, and so we saw the market edging up by the end of the day." LUKoil <LKOH.RTS> finished 3.01 percent higher at $9.40 after having dipped to $8.95, while sister oil company Surgutneftegaz <SNGS.RTS> was up 1.7 percent at $0.1556. Energy companies were steady with national power utility UES <EESR.RTS> even with the previous close of $0.0587 and as was Mosenergo at $0.0275.

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