Russian stocks can edge up backed by rising crude, foreign floors

MOSCOW, Dec 27 (PRIME) -- The Russian stock market can join the New Year rally season on Monday thanks to a positive foreign environment, analysts said.

“The New Year rally season, one of the most favorable periods for global markets, is to begin today… A slightly positive external background and low trading activity can result in purchases on the Russian stock market. The MOEX Russia Index may reach the 3,750 mark,” head of PSB Bank’s analysis group Vladimir Solovyov said.

He added that Asian markets are seen mixed, the U.S. and European indices futures are rising, and crude prices are trading in the green territory.

Andrei Vernikov, head of investment analysis department of Investment Group Univer said that easing geopolitical tensions between Russia and Ukraine have improved market sentiments.

The market can also be driven by metals giant Norilsk Nickel’s decision on dividends for January–September.

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