Russian stocks can rise on US stock market increase

MOSCOW, Oct 17 (PRIME) -- The Russian stock market will likely grow on Wednesday in the morning as reports by the U.S. companies triggered an increase of the U.S. stock market on Tuesday in the evening, analysts said.

“Some increase is possible today at the start of trade: the softening of the external background, partially due to a flow of financials of large Western companies, helps buyers’ activity to recover,” Olma’s senior analyst Anton Startsev said.

Alor Broker analyst Alexei Antonov said that the Russian market will likely open with an upward gap, reflecting growth of the U.S. stock market on Tuesday in the evening.

Startsev said that a statements from an E.U. summit onBrexit will define the mood of global investors later on Wednesday.

Alexei Korenev, a Finam analyst, said that Russian investors will also pay attention to releases of inflation figures in the U.K. and E.U., the U.S construction permits and new housing construction. In the evening, the U.S. Federal Reserve System (Fed) will publish the minutes.

On the Russian corporate stage, Detsky Mir will present the operating report for July–September and January–September, and Gazprom’s board of directors will meet later on Wednesday.

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