Russian stocks can grow following rising US futures

MOSCOW, Aug 2 (PRIME) -- The Russian stock market will likely increase at the start of Monday's trading session in the wake of rising U.S. stocks futures, analysts said.

"The American futures add about 0.5% ahead of our opening, the industrial metals increase, the U.S. dollar seems dead as compared to the key global currencies so far. Oil disappointed us, falling by 1.2%, but this was mainly due to the expiration of futures. We will open with growth, which might accelerate if the external background improves," Alor Broker analyst Alexei Antonov said.

Georgy Vashchenko, head of investment company Freedom Finance department for trade operations on the Russian stock market, said that the Russian market corrected downwards after two months of growth in July and would likely to continue falling in August, but the forecast for July–December is optimistic.

The analyst put the MOEX Russia Index guidance for Monday at 3,750–3,800.

According to Antonov, the metal rally will likely continue. Norilsk Nickel looks weaker than the rest of securities in the sector because of a court claim by the fisheries watchdog over pollution in 2020.

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