Russian stocks can rise due to positive dynamics of global bourses

MOSCOW, Feb 4 (PRIME) -- The Russian stock market has gained 0.7% during the morning session and can expand growth in the main session on Friday thanks to an improved external environment, analysts said.

“We expect the MOEX Russia Index to open its main trading session around 0.6–1.3% higher within the 3,495–3,515 range… After rising at the opening, the index can continue advancing into the range of 3,520–3,530 thanks to an improved external background,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The core U.S. indices futures are rising by 0.5–2%, the Brent oil price has added 0.5%, and Asian markets are also trading in the positive territory so the external background looks positive, he added.

Alor Broker analyst Alexei Antonov said that top bank Sberbank, oil companies Lukoil and Rosneft and metals producer Norilsk Nickel are likely to become the day’s leaders to recover from previous losses.

Antonov has, however, warned against active purchases saying that the Russian stock market can form a second wave of decline in light of persisting geopolitical risks, and that investors can take profit prior to the weekend.

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