MOSCOW, Jan 18 (PRIME) -- The Russian stock market can rise on Friday at the start of the trading session in the wake of media reports about easing of the U.S.–China trade conflict, analysts said.
“An increase is possible today at the start of trade. Media statements about a proposal by the U.S. Treasury Department to reduce duties on Chinese imports have emerged,” investment company Olma’s senior analyst Anton Startsev said.
“The statements were not confirmed by the treasury but sparked cautious optimism on the U.S. stock market, which was also supported by a statement by Federal Reserve System (Fed) Chicago head Charles Evans about the Fed’s readiness not to hurry with increase of interest rates. The improvement of the background can favor recovery of demand on the Russian market as well,” Startsev said.
Promsvyazbank analyst Mikhail Poddubsky said that the U.S. and China have about a month left before the truce achieved during the latest G20 summit expires, and market participants are waiting for fast and intentional trade-offs during the negotiations.
The Brent prices lost 0.2% to U.S. $61.18 on Thursday, but grew 1.14% to $61.88 on Friday in the morning.
According to Startsev, the RTS can grow significantly if it breaks through 1,150. Poddubsky said that the MOEX Russia Index has approached 2,450, and the possibility of it exceeding this level and heading for 2,480–2,500 increased.
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