Russian stocks can open higher, reverse later on Friday

MOSCOW, Oct 14 (PRIME) -- The Russian stock market can open higher and continue the positive trend in the morning on Friday, but reverse closer to the evening as investors will take profit ahead of the weekend in light of a tense geopolitical situation, analysts said.

“Russian stocks can continue a positive trend on Friday amid rising global appetites for risk, and the MOEX Russia Index can keep on growing. However, sales can strengthen closer to the end of the day as investors will take profit on long positions ahead of the weekend. The sales can cover the morning’s advance and drive the benchmark below 1,950,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

The ruble may weaken against the major global currencies on Friday, he added.

Alor Broker analyst Alexei Antonov agreed that investors will likely take profit in the evening due to a very tense geopolitical environment.

He added that oil company Lukoil can rise to catch up with oil companies Rosneft and Gazpromneft’s previous growth.

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