RTS levels off in uninspiring week.

A solid if uninspiring performance by Russian shares saw the Moscow market consolidate between 166 and 175 points, on the back of rising world markets. Overall, the year's bullish trend continued, and the Russian Trading System (RTS) closed 4.5 points up on last week at just over 174 points.

In a choppy week, the index rose and fell on varying volumes. No final decision was taken on Russia's Paris Club debt, but there was discussion of a possible budget amendment authorising the government to borrow from the central bank to make repayments.

Global markets remained strong, prompting bullish short-term forecasts. But some analysts saw the RTS' lack of big …