Russian stocks can continue growth amid positive environment

MOSCOW, Mar 21 (PRIME) -- The Russian stock market is likely to edge up at the opening on Thursday amid an encouraging global environment on the back of the U.S. Federal Reserve’s decision to retain the key interest rate unchanged, analysts said.

“The MOEX Russian Index may open modestly higher, by 0.2–0.4%, within the 2,510–2,515 range… and to tick up into the 2,520–2,540 range later thanks to a favorable external environment following yesterday’s decision of the U.S. Federal Reserve to keep the key interest rate unchanged at 2.25–2.50%,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

Olma senior analyst Anton Startsev said that the RTS index is likely to continue growing as well.

The major U.S. indices futures, the Asian benchmarks and oil prices are seen rising by 0.2–0.8%.

Investors in Russia will also likely follow the release of an International Financial Reporting Standards (IFRS) report for 2018 and October–December 2018 by electronics and household appliances retailer M.Video and the recommendation on dividend payments for 2018 by the board of directors of grocery retailer Magnit.

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