Russian stocks may grow thanks to decreasing coronavirus threat

MOSCOW, Feb 6 (PRIME) -- The Russian stock market may edge up on Thursday thanks to decreasing investors’ wariness over the spread of coronavirus and rising global positivity, analysts said.

“The external background seen in the morning envisages continuation of a moderate growth of the Russian stock market. The 3,150 mark is the nearest resistance for the MOEX Russia Index,” Director of BCS Broker’s stock market experts department Vasily Karpunin said.

“(The dynamics) of the U.S. market demonstrates a significant decrease of investors’ wariness over the spread of coronavirus… and the sentiment gradually moves to other bourses,”

The Brent oil futures rebounded 2.4% to above U.S. $55 per barrel on Wednesday, and the trend continues with a rise of 1.4% this morning. The Asian markets are in the positive territory, Karpunin added.

Olma senior analyst Anton Startsev said that the RTS index is also likely to rise thanks to global positivity over a decreasing coronavirus threat and China’s recent decision to halve duties on $75 billion of U.S. goods.

Investors will also follow publication of grocery retailer Magnit’s unaudited IFRS financial results for 2019 among other corporate events

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