Russian stocks may rise as markets abroad recover after Trump’s win

MOSCOW, Nov 10 (PRIME) -- Russian stocks are likely to continue the positive trend seen on Wednesday evening at the opening on Thursday on the back of hopes related to the victory of Donald Trump in the U.S. presidential elections, supported by a recovery of foreign markets, analysts said.

“Continuation of an earlier emerged growth of the RTS index is possible today,” Olma senior analyst Anton Startsev said.

“After a first (negative) reaction of the global market to the Trump victory in the U.S. presidential elections, the situation on the Western stock markets has improved, which, together with the prospects of a Russian–American relations de-escalation creates conditions for a (partial) fulfillment of the growth potential, formed over a long period of a capital outflow from the Russian economy,” Startsev said.

Brent futures have remained above U.S. $46 per barrel. U.S. stock market futures are growing, Asian markets are mostly demonstrating positive dynamics, the European premarket signals opening with upward gaps later on Thursday, which makes for a positive background for the Russian session start, Oleg Shagov, head of investment company Solid’s research department, said.

The RTS increase will become more sustainable if the index manages to consolidate above 1,000, Startsev said.

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