Russian stocks can grow on foreign markets increase

MOSCOW, Dec 11 (PRIME) -- The Russian stock market will likely rise on Monday at the start of the session on the back of positive dynamics on foreign markets, analysts said.

“The ultimate influence of key external factors that have a significant impact on the Russian financial market is moderately positive today at the start of the day in my estimates,” Oleg Shagov, head of investment company Solid research department, said.

Shagov said that the Brent price has fallen slightly to U.S. $63.1 per barrel as the U.S. drilling has increased according to statistics; U.S. stock market futures and Asian markets are mostly growing. The European premarket is signaling an increase as well.

According to Olma senior analyst Anton Startsev, the foreign stock market situation has improved on the back of solid U.S. labor market figures and expectations of a final approval of the tax reform by the Congress.

A possibility of monetary policy toughening by the U.S. Federal Reserve System (Fed) is a limiting factor, while an increase of the key rate later this week is most probably already included in stock quotations, he said.

Shagov said that the MOEX Russia Index can open at about 2,105 and can regain some of earlier losses. Startsev said that the RTS will likely rebound.

The Fed, the European Central Bank, the Bank of England and the Russian central bank will have meetings later this week and according to Shagov, their decisions are seen as the most important market events.

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