Russian stock can continue recovery on modestly favorable environ

MOSCOW, Oct 2 (PRIME) -- The Russian stock market can demonstrate positive dynamics at its opening on Monday thanks to a relatively positive foreign background and the weakening ruble, analysts said.

“Purchases can prevail at the start of the trading session on Monday. In technical terms, the MOEX Russia Index has managed to break through the correction trend, which started from September’s highs… and to consolidate above the 3,075 support line,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

The chances for recovery of upward dynamics have thus increased, and the local market can demonstrate new local highs soon, he added.

The global sentiments are sees at modestly positive, Zvarich also said. The main Asian markets are consolidating at the level of their previous closing, while the markets of China and India are closed. The core U.S. indices futures are recovering after a slight fall on September 29. The nearest Brent oil futures are growing by 0.1% to U.S. $92.3 per barrel.

BitRiver financial analyst Vladislav Antonov said that MOEX Russia Index is recovering in light of weakening of the ruble and added that he sees no barriers for the index’s growth to 3,170, but not above 3,190 yet.

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