Russian stocks may open with increase on sanctions delay

MOSCOW, Sep 11 (PRIME) -- Russian stocks are likely to rise at Thursday’s opening as the E.U. has once again delayed imposing new sanctions on the country, analysts said.

“Today, a slight decrease is possible at the start of the trading session. The E.U. decision on new sanctions against Russian companies has not been finally adopted and will be further discussed later on Thursday. The dispute between the E.U. members allows us to say that the expansion of sanctions is still questionable,” Anton Startsev, Olma’s senior analyst, said.

The E.U. delayed imposing new sanctions on Russia as some member countries need more time to make a final decision, Italian Minister for Foreign Affairs and International Cooperation Federica Mogherini said late Wednesday. Previously, some E.U. officials, including German Chancellor Angela Merkel, said that the imposition of new sanctions could depend on the ceasefire in Ukraine, which has been still held.

“We expect the start of the trading session to be moderately positive with the MICEX index rising about 0.3%. We suppose that the index may further climb above the 1,475-point mark,” Promsvyazbank’s senior analyst Oleg Shagov said.

The background prior to the Russian market’s opening is mixed with U.S. stock index futures slightly decreasing, Asian stock floors showing weak positive dynamics and Brent oil price sliding 0.1% to U.S. $97.94 per barrel.

Investors will focus their attention today on a release of GDP data by France and Germany, as well as U.S. jobless claims and the European Central Bank’s monthly report, Shagov added.

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