Russian stocks may hit new highs supported by global positivity

MOSCOW, Jan 25 (PRIME) -- The Russian stock market is likely to open higher and may hit new records later in the day on Friday thanks to positivity on the global stock and oil markets, analysts said.

“We expect the MOEX Russia Index to edge up by a noticeable 0.5% to around 2,495… After the positive opening, we may see attempts of the benchmark to hit new all-time highs of above 2,500 thanks to the support of the external environment ,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The U.S. indices futures and Asian markets are in the green territory and the Brent oil price grew 1.2%, he added.

Olma senior analyst Anton Startsev said that the favorable global background is likely to support local the blue chips at the beginning of the trade session, but investors may begin taking profit as the RTS index approaches 1,200.

In Russia, investors may also be interested in operating figures for October–December and 2018 which are to be released by integrated steel producer Magnitogorsk Iron and Steel Works (MMK) and coal producer Raspadskaya.

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