Russian stocks can rise as investors hope for long US stimuli

MOSCOW, Aug 30 (PRIME) -- The Russian stock market will likely open in the green zone on Monday on investor hopes that the U.S. would not curtail the economic support fast after a speech by Federal Reserve System (Fed) Chairman Jerome Powell, analysts said.

"Friday was marked by growth, the RTS index added 1.8%. The bulls will still be strong today at the opening of the market," Andrei Vernikov, head of the investment analysis and education department of investment company Univer Capital, said.

He added that Powell demonstrated a mild stance on monetary policy, giving no schedule of curtailing financial support, which inspired hope that the authority would retain low interest rates for a long time.

The oil prices are supported by the Ida Hurricane, with more than 90% of production in the Gulf of Mexico suspended. A forthcoming meeting of OPEC+ deal participants on Wednesday is an important factor: Kuwait earlier announced a revision of an earlier plan to raise production by 400,000 barrels per day due to a somewhat weak demand, Vernikov said.

Alor Broker senior analyst Alexei Antonov said that the external background for the start of the Russian session is positive as the American futures add 0.1%, oil trades at about U.S. $72 per barrel, metals except gold increase.

According to Vernikov, investors in the developing markets are nervous about a recent crackdown of the Chinese authorities on the tech giants.

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