Russian stocks may rise amid growing oil, mixed background

MOSCOW, Mar 4 (PRIME) -- Russian stocks may increase on Wednesday amid growing oil prices and mixed dynamics on global floors, analysts said.

“An increase of the RTS Index is possible at the start of trading today – an unscheduled easing of the U.S. Federal Reserve monetary policy provides grounds for a recovery in demand for securities of emerging markets,” Olma senior analyst Anton Startsev said.

“At the same time, the Fed’s actions reflect increased concern about the consequences of the coronavirus spread, and so far the question remains whether monetary stimulus measures will be sufficient to offset these effects on the economy,” he said.

The U.S. stock indices fell by 2.8–3%, the U.S. stock index futures are trading above the level of Tuesday’s close, European stock indices closed in plus, and Asian indices are showing mixed dynamics, Startsev said.

Alor Broker analyst Alexei Antonov said, “Today, the U.S. futures are trading with growth of over 1%, and oil is rising. Therefore, taking into account yesterday’s fall of the U.S. stocks, we are waiting for the Russian market to open near zero.”

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