Russian stocks may advance backed by commodity prices growth

MOSCOW, Feb 9 (PRIME) -- The Russian stock market is likely to continue its upward dynamics on Tuesday thanks to a rise in global commodity prices and despite the persisting sanctions risks, analysts said.

“The market proves to be aimed at short-time growth and returning to January’s highs of 3,520 and 1,507. The guidance for the MOEX Russia Index (for Tuesday) is 3,400–3,500,” Veles Broker analyst Yelena Kozhukhova said.

Ivan Semchenkov, analyst at investment company Finam, said that the external background looks neutral with the U.S. index futures trading slightly in the negative territory, and the nearest Brent oil futures rising around 0.5% to U.S. $61 per barrel.

Director of BCS Broker’s stock market experts department Vasily Karpunin said that the domestic market prefers to ignore sanctions risks.

Alor Broker analyst Alexei Antonov said that correction is possible at any moment, but now the Russian stocks are supported by growth of oil prices and almost all industrial and precious metals.

Investors may also be interested in presentation of a new dividend policy and a development strategy by electronic goods retailer M.Video-Eldorado.

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