Russian stocks can keep on rising on US economic incentives

MOSCOW, Dec 29 (PRIME) -- The Russian stock market will likely continue to grow on Tuesday as the mood on foreign markets is still positive after U.S. economic incentives were approved, analysts said.

"Growth of the RTS Index is possible today at the start of the session. The mood on the global stock markets remains optimistic after approval of the U.S. economy support measures and support of Donald Trump’s initiative to raise payments to the poor to U.S. $2,000 from $600 per person by the House of Representatives," Olma senior analyst Anton Startsev said.

Alor Broker analyst Alexei Antonov said that the Western financial floors opened higher after the Catholic Christmas due to the U.S. economic stimuli, and the external background for the Russian trading session is positive. The U.S. stock market futures grow by about 0.5% as well as the mineral resource prices.

He said that the Russian oil sector fell on Monday although oil was traded above $50. The oil price, supported by only the weakening dollar, can fall any moment because Europe cut consumption due to the pandemic restrictions and a lower number of flights.

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