Russian stocks may rise on favorable commodity markets environment

MOSCOW, Sep 10 (PRIME) -- The Russian stock market is likely to open higher, above the 4,000 mark, on Friday thanks to rising crude prices and prices for all industrial and precious metals, analysts said.

“The MOEX Russia Index can return to above 4,000 at the beginning of the day to reverse the previous downward correction. The ruble can also strengthen thanks to rising crude prices and possible growth of the central bank’s key interest rate,” Otkritie Broker analyst Andrei Kochetkov said.

On Friday, local investors will track decisions of the central bank’s board of directors that is to discuss future monetary policy, and news from the conference of Chairwoman Elvira Nabiullina.

Alor Broker analyst Alexei Antonov said that the external background has turned green with the main U.S. futures growing by 0.3%, and all industrial and precious metals seen in the positive territory.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, also expects the MOEX Russia Index to open around 0.3–0.5% higher within the 4,000–4,015 range and to rise into the 4,020–4,030 later in the day.

Investors in Russia are also likely to follow a slew of operating results reports for August by diamond producer ALROSA and meat producer Cherkizovo Group.

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