Russian stocks may rebound higher on external positivity
MOSCOW, Dec 16 (PRIME) -- The Russian stock market may edge up at the opening on Thursday, supported by inspiring external background, analysts said.
According to Alexei Antonov of Alor Broker, U.S. index futures are up 0.25% supported by investors’ surprisingly positive reaction to yesterdays’ the U.S. Federal Reserve meeting, and crude oil is up 1%, which will help the Russian stock market to open with a rise today and continue the rebound trend.
Algo Capital’s Vitaly Manzhos expects the MOEX Russia Index to open with an increase of 0.1–0.7%, in the 3,680–3,700 points range on a moderate improvement in the external backdrop.
Investors will focus on the results of the ECB’s scheduled meeting in the afternoon and the U.S. unemployment data and November statistics on housing construction later in the day, as well as traditional crude oil dynamics, Manzhos said.
Bogdan Zvarich, analyst at Banki.ru, said, “Despite the Fed’s willingness to tighten monetary policy, global markets have gone up. … The mood on the world markets on Thursday morning can be characterized as moderately positive.”
Zvarich said he expects “the prevalence of purchases in Russian shares at the start of trading, which may bring the Russian market into the area of 3660 points at the start of the main session.”
In general, investors eagerly anticipate the central bank’s decision on whether to raise the rate on Friday, Zvarich said.
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