Positive mood, lower global risks may push Russian stocks up

MOSCOW, Sep 11 (PRIME) -- The Russian stock market may edge up on Monday due to a moderately positive foreign environment and decreasing geopolitical risks, analysts said.

“We expect the Russian stock market to open at around 2,031–2,035 points of the MICEX index and believe it may continue previous upwards dynamics if the external background remains positive,” Oleg Shagov, head of investment company Solid’s research department, said.

Olma senior analyst Anton Startsev said investor sentiment is likely to remain positive due to declining geopolitical risks with North Korea abolishing another round of missile tests.

Shagov also said that the Brent oil price looks trying to win back September 8’s losses.

The major U.S. and Asian benchmarks are trading in the green territory and the European pre-market points to a higher start of trade.

The Russian market may also be driven by new decisions of the Zamoskvoretsky District Court of Moscow, which will continue consideration of a bribery case against ex-minister Alexei Ulyukayev.

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