Russian stocks can show restrained growth amid neural environment

MOSCOW, Oct 20 (PRIME) -- The Russian stock market can demonstrate restrained growth on Friday on restrained activity, analysts said.

“The MOEX Russia Index’s general picture has not changed much. The benchmark has been trading near the peak of 3,287 reached on September 5. Buyers will attempt to use the external background to push it upwards to 3,270, and then profit-taking can either begin or not,” BitRiver financial analyst Vladislav Antonov said.

Yevgeny Loktyukhov, head of Promsvyazbank’s research department, said that the MOEX Russia Index will tend to restrain growth with a target range of 3,240–3,280.

The ruble is consolidating, a plenty of significant event are expected to be take place next week, including dividend news and a meeting of the central bank’s board of directors, and external markets are seen weak so investors are unlikely to show any considerable movements on the last working day of the week, he added.

Less liquid stocks of internal sectors, coal and precious metals producers are likely to be most demanded on Friday, Loktyukhov also said.

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