Russian stocks can edge up amid stable foreign background

MOSCOW, May 27 (PRIME) -- The Russian stock market can open higher and continue the advance to above 2,500 of the MOEX Russia Index later in the day on Friday thanks to a moderately positive external environment and dividends news, analysts said.

“We expect the MOEX Russia Index to open with changes of up to 1% within the 2,385–2,440 range… The benchmark may consolidate later in the day following yesterday’s strong movement thanks to a relatively stable external background,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The core U.S. indices futures are falling by around 0.2%, the Brent oil prices has inflated by 0.1%, and the Asian markets are seen slightly higher, he added.

Head of PSB Bank’s analysis group Vladimir Solovyov expects positive sentiments to persist on the Russian stock market on Friday with the MOEX Russia Index able to reach the 2,500 mark on the news about dividends of the largest energy companies.

Senior analyst at financial supermarket Banki.Ru Bogdan Zvarich also expects the local market to continue advancing. The MOEX Russia Index can break through the 2,500 mark and consolidate above, he said.

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