Russian stocks can grow on growing oil price, Chinese market rise
MOSCOW, Dec 30 (PRIME) -- The Russian stock market will likely increase on Monday at the start of the trading session due to a rise of oil prices and the Chinese stock market, analysts said.
“The Russian stock market added 0.6% on Friday, hit a new all-time high and closed near it. The external background today in the morning speaks in favor of continuing purchases: the Chinese market adds more than 1%, the American futures grow, oil addis 0.33%, that’s why we are waiting for opening of the Russian market with a growth of up to 0.2%,” Alor Broker analyst Alexei Antonov said.
The analyst said that it seems reasonable to carry long positions into 2020 because the Western trading floors have not showed signs of a starting downward correction.
Finam analyst Alexei Korenev said that the market will focus on a Markit report of the Manufacturing purchasing managers’ index (PMI), MTS will hold an extraordinary general meeting of the shareholders, the boards of directors of TransContainer and Moscow United Electric Grid Company (MOESK) will meet; PhosAgro will close the shareholder register for an annual general meeting of the shareholders and Tatneft for dividends.
Germany will publish retail data, the U.K. mortgage data, the U.S. the Chicago Fed National Activity Index and the index of unfinished real estate sales.
Antonov said that Gazprom will likely continue growth as a gas transit agreement with Ukraine was attained. Lukoil will likely rise due to increasing oil prices and a buyback program of the company.
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