Russian stocks may moderately grow amid mixed background

MOSCOW, May 25 (PRIME) -- Russian stock may moderately increase at the opening on Friday amid mixed foreign background and lack of major growth drivers, analysts said.

“We expect the MOEX Russia Index to open with a moderate increase of around 0.2–0.3%,” Vitaly Manzhos, senior risk manager at investment company Nord Capital, said.

The U.S. stock index futures are growing by 0.4% before the Russian opening, while Brent oil futures lost 0.2%, Japan’s Nikkei225 increased 0.2%, and Hong Kong’s Hang Seng lost 0.3%, he said.

Olma senior analyst Anton Startsev said “there are no signals for the RTS index to come out from the consolidation yet. The foreign background remains uncertain, the U.S.’s refusal to hold talks with Korea and increased volatility of the Turkish lira rate negatively affect “demand for risk” on the whole.”

Alor Broker analyst Alexei Antonov expects that the Russian stock market will increase by up to 0.5% at the opening, but by the end of the day part of investors will take profit amid geopolitical concerns.

“From the technical point the MOEX Russia Index has removed a local overbought and is ready to storm historic highs, but this requires new drivers and fresh money, which is not on the market now,” he said.

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