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    STOCK MARKET ENCOURAGED BY GOVERNMENT RESHUFFLE

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    MOSCOW, MARCH 9-RIA NOVOSTI - The Russian stock market has not rejected the new composition of the cabinet of ministers. Experts say that most appointments were expected and the government reshuffle has brought virtually no changes to the line-up of forces on the Russian stock market-the level of quotations has hardly changed while the price-rise as regards certain securities has even reached one percent..

    "The absence of any notable reaction is evidence that the result has coincided with the market expectations," Amiti agency expert told RIA Novosti. " Most participants predicted such a result and that the proportion of liberals in the new government will be quite weighty.:

    "The expectations have justified themselves and the reaction was a kind of moderate optimism," said Aton expert Anatoly Kaplin. "A price-rise on the stock market began in the morning but the reason for this is a large amount of free funds and the growth of world oil prices. " "The market is showing an optimistic tendency," said Region agency expert Yevgeny Shago. He added that the demand for quite a number of shares has been resumed but the market's negative reaction toward United Energy Systems shares is persisting. This might be the market's response to Prime Minister Fradkov's statement that all decisions on the company's restructuring will be worked out by agreement with the government," said Shago.

    The market took it as a sign of drag on the company's reforms, said the expert.

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