Russian stocks can continue rising on economic forum news flow

MOSCOW, Jun 17 (PRIME) -- The Russian stock market may grow at the start of trading on Friday on a positive news flow from the St. Petersburg International Economic Forum (SPIEF), analysts said.

"The Russian stock market continued to increase on Thursday and resisted the external factors well. The index has been rising for three sessions in a row with a gradual acceleration,” Director of BCS Broker’s stock market experts department Vasily Karpunin said.

“The overall market mood is positive, although heavyweight Gazprom is no longer growing on the news that pumping to the E.U. decreased."

The analyst also said that the news flow from Thursday's sessions of the SPIEF was huge and generated interest to the Russian companies. VTB and Sberbank rose after Central Bank Chairwoman Elvira Nabiullina said that the authority would not need to subsidize their capital, Karpunin said.

Banki.ru’s senior analyst Bogdan Zvarich said that sales predominated the rest of global markets on Friday morning after the U.S. raised the key rate and released the statistics that was worse than market expectations. The key Asian markets lost up to 1.5%, with only the Chinese index growing 0.3%. The U.S. stock market futures corrected upwards by 0.9%. The nearest Brent future fell by 0.5% to U.S. $119.2 per barrel.

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