Russian stocks may rise on improved foreign background

MOSCOW, Jul 21 (PRIME) -- Russian stocks are projected to increase at the opening on Tuesday backed by improved foreign background, analysts said.

“Growth of the RTS index may continue at the start of trading today, as the foreign background improved after the E.U. leaders approved a 750 billion euro economic support plan,” Olma senior analyst Anton Startsev said.

The U.S. stock indices closed in plus, the U.S. stock index futures are trading above the level of Monday’s close, European stock indices closed mainly in plus, and Asian indices are also growing, he said.

Promsvyazbank chief analyst Bogdan Zvarich also projects growth of the Russian stock market at the start of trading.

“Taking into account the foreign background, we expect the predominance of purchases in Russian shares at the beginning of trading today, which will allow our market to continue its growth of Monday. At the same time, the MOEX Russia Index will consolidate in the range of 2,800–2,850 points and during the session will make a significant step towards its upper border, which the market has not been able to overcome for a month and a half,” Zvarich said.

Among corporate events, investors will follow publication of hydropower giant RusHydro’s operating results for January–June.

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