Russian stocks can grow along with worldwide holiday rally

MOSCOW, Dec 28 (PRIME) -- The Russian stock market will likely increase on Monday at the start of the session as approval of the U.S. fiscal stimuli launched a worldwide market rally supported by traditional holiday optimism, analysts said.

"The RTS index may increase today at the start of the session. The final approval of a package of fiscal incentives for the U.S. economy gives us reason for some optimism on the stock markets," Olma senior analyst Anton Startsev said.

Alor Broker analyst Alexei Antonov said that foreign markets can see a Santa Claus rally as the U.S. stock market futures added 0.3%, the U.S. dollar fell against the euro, industrial and precious metals surged.

Oil does not participate in the euphoria and remains at U.S. $51 per barrel, which can be seen as a high price amid the severe coronavirus restrictions in Europe, the analyst said.

According to Antonov, Norilsk Nickel will likely lead the Russian market as the product price grew. Sberbank and Moscow Exchange will grow, while the steel companies can be under pressure on reports that the government will introduce export duties.

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