MOSCOW, Aug 21 (PRIME) – The Russian stocks may rise on Tuesday morning supported by a positive external background, analysts said.
“The external background is still positive as investors are waiting for the first steps in settlement of the U.S.–China trade dispute. The delegations of the two countries are to meet on August 22–23. Prices for metals are rising in expectation of a positive outcome of the negotiations. The Brent oil price is trading in a high range of U.S. $72–73 per barrel,” Anastasia Sosnova, an analyst at investment company Freedom Finance, said.
Investors are no more concerned with the possible spreading of the Turkish crisis to other markets as the Turkish government had coped with a speculative contraction of the Turkish lira. A large-scale flight from risky assets into the U.S. dollar has also stopped, Sosnova said.
“An increase of the stock market is possible at the beginning of the day. U.S. President Donald Trump blamed the E.U. and China for manipulation of the currency rates and the Federal Reserve System for a too tough monetary policy, and it resulted in weakening of the U.S. dollar against other currencies…and the weakening supports recovery of demand on emerging markets,” Anton Startsev, a senior analyst at investment company Olma, said.
Veles Capital said in a research note that the Russian market will focus on financial results of mobile operator MTS and children goods retailer Detsky Mir, a decision of retailer Magnit’s directors on a share buyback program and Rosneft’s directors dividend decisions. The U.K. is to release August industrial orders, while the American Petroleum Institute is to disclose weekly date on U.S. crude reserves, the investment company said.
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