Russian stocks can edge up thanks to positive global environment

MOSCOW, Dec 13 (PRIME) -- The Russian stock market is likely to demonstrate upward correction on Monday thanks to an encouraging global environment and hopes for easing of geopolitical tensions, analysts said.

“We expect the Russian stock market’s morning session to open significantly higher, by around 0.2–0.8% within the 3,775–3,795 range of the MOEX Russia Index… The benchmark can continue its upward correction closer to the 3,800 mark later in the day,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

He added that the core U.S. indices futures are trading around 0.3–0.4% higher, the Brent oil price is growing by 1.1%, and Asian markets are seen strengthening by 0.8–1%.

Andrei Vernikov, head of investment analysis department of Investment Group Univer said that the current global environment looks good for the bulls.

Senior analyst at Promsvyazbank Bogdan Zvarich also said that the Russian stock market can demonstrate growth to recover from December 10’s losses with the MOEX Russia Index consolidating above the 3,800 mark.

Improvement of the geopolitical situation and easing of tensions can become another driver for upward movement, he added.

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