Russian stocks likely to grow thanks to global market advance

MOSCOW, Jan 9 (PRIME) -- The Russian stock market may edge up at the opening on Thursday encouraged by the improving global background amid decreasing geopolitical tensions, analysts said.

“Considering the results of the previous evening session we can assume that if the current state of the external background persists, the MOEX Russia Index may open insignificantly higher than the level of Wednesday’s closing, by no more than 0.3%,” Director of BCS Broker’s stock market experts department Vasily Karpunin said.

The foreign background is moderately positive with the major U.S. indices futures rising, Asian markets trading in the green territory, and the Brent oil price adding around 0.67%, he added.

Finam analyst Sergei Drozdov said that the global markets are encouraged by decreasing geopolitical tensions between the U.S. and Iran thanks to more restrained than expected rhetoric of U.S. President Donald Trump after Tehran’s missile attacks against U.S. military bases in Iraq.

Karpunin also said that the RTS index looks overheated and that further ruble strengthening can cause a slowdown in the domestic stock market.

Metals giant Norilsk Nickel may reach 20,000 rubles per share soon thanks to a rally in palladium and nickel prices, he also said.

Grocery retailer Magnit and mobile phone operator MTS will trade ex-dividend.

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