Russian stocks may firm as US, China prepare for trade talks

MOSCOW, Oct 8 (PRIME) – The Russian stocks are likely to firm at opening on Tuesday as the global investor mood has improved as China and the U.S. are preparing for trade negotiations, analysts said.

“A slight increase of the RTS Index is possible today at the beginning of trade. China has confirmed a visit of the deputy prime minister and the head of the People’s Bank of China to the U.S. for trade negotiations, which gave the market a reason to keep relatively optimistic expectations. The next round of the U.S.–China talks was scheduled for October 10–11,” investment company Olma’s senior analyst Anton Startsev said.

Vadim Kravchuk, analyst at Otkritie Broker, said that the background for the Russian market was neutral in the morning.

“At the same time, the possibility for the MOEX Russia Index to start trading in the green is rather high, as the Chinese indices, which opened higher after suspension for more than a week due to holidays, support that. The oil prices also grow insignificantly at the beginning of the day,” Kravchuk said.

Alor Broker’s analyst Alexei Antonov also said that the background was neutral for the Russian market. “We are very likely to open with a very slight growth today, while further dynamics of the market cannot be predicted, as the forces of stock bears and bulls are balanced now. Nevertheless, traders will swiftly react to any news on to the negotiations of the U.S. and China,” he said.

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