MOSCOW, Jan 30 (PRIME) -- The Russian stock market will likely increase on Wednesday at the start of trade on the back of higher oil prices and hopes for a forthcoming restart of the China–U.S. trade negotiations, analysts said.
“I expect growth. The external background is changing for the better. The market can reset a record of the MOEX Russia Index, my estimate ranges between 2,500 and 2,550. The majority of blue chips will be among the leaders,” Georgy Vashchenko, head of the department for transactions on the Russian stock market at investment company Freedom Finance, said.
Olma senior analyst Anton Startsev said that the RTS Index is to continue consolidation slightly lower than 1,200.
Algo Capital senior risk manager Vitaly Manzhos said, “Taking into account improvement of the oil market mood, the external background can be qualified as positive before the start of trade.”
Startsev said that market activity has decreased in general ahead of a release of U.S. statistics, including the gross domestic product (GDP) figure for October–December, a press conference by the head of the Fed and restart of the U.S.–China trade negotiations.
Promsvyazbank analyst Mikhail Poddubsky said that there are media reports that China has prepared a roadmap for structural reforms, including reduction of control over foreign investments and steps for improvement of copyright protection.
Vashchenko said that Russia’s Norilsk Nickel will publish production figures for 2018, which is to become Russia’s main corporate event on Wednesday.
End
|
|
