Russian stocks may open higher on rising Asian floors, US indices

MOSCOW, Feb 10 (PRIME) -- Russian stocks may increase at Monday opening following the positive dynamics of the Asian floors and higher closure of the U.S. market driven by quite good statistics, analysts said.

The Russian trading session may start with purchases amid moderately positive background with flat futures on the U.S. stock indices and rising Asian markets, Promsvyazbank senior analyst Oleg Shagov said.

The MICEX index may attempt to exceed the level of 1,480.00 points during the day, Shagov said. On February 7, the index closed at 1,478.48 points.

Veles Capital analysts said in a note that the dynamics of the domestic market will depend on the closure results of the U.S. indices on February 7, when they mostly increased on moderately good statistics.

ITinvest-Prospekt analyst Vasily Oleinik said that Tuesday’s speech of Janet Yellen, the new head of the Federal Reserve (Fed), will become one of the key events of the week, as investors have been worrying whether the Fed will be further tapering its stimulus program at each meeting.

Investors will wait for industrial production data from France and Germany, and business confidence index in the euro zone.

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