Russian stock may grow at opening thanks to improving background

MOSCOW, Jun 10 (PRIME) -- The Russian stock market will likely edge up at the opening thanks to a favorable global background, analysts said on Monday.

“We expect the MOEX Russia Index to open with a moderate growth of around 0.3% within a 2,735–2,740 range… The benchmark may consolidate at the opening level later in the day,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The external background has improved considerably with the U.S. major indices futures rising around 0.4%, Asian markets seen around 1% higher, and the Brent oil price surging 0.7%, he also said.

Olma senior analyst Anton Startsev said that the RTS index is also likely to open higher on softening trade war risks after U.S. President Donald Trump had dropped his plan to impose tariffs on goods from Mexico as the two countries reach an immigration deal.

The market will also be driven by releases of operating results for January–May by raw diamond mining giant ALROSA and meat producer Cherkizovo Group.

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