Russian stocks may rise on positive external background

MOSCOW, Sep 26 (PRIME) -- The Russian stock market is likely to open with a slight increase on Thursday as the international news flow and trade on foreign bourses create a moderately positive background for the national market, analysts said.

“The external background is moderately positive before the opening of the Russian market today. Western bourses showed a quite solid growth during the yesterday's trading session due to several factors, so the downward correction of the previous days is likely to have been suspended,” Vadim Kravchuk, analyst at investment company Solid, said.

Wednesday started with concerns over the launch of an impeachment procedure against U.S. President Donald Trump, but the mood changed later in the day with Trump saying that a trade deal with China may be signed earlier than expected. The U.S. data concerning sales of new houses was also positive, and the signing of a trade agreement between the U.S. and Japan prompted speculative purchases. The combination of the factors supports purchases worldwide, Kravchuk said.

“The mood of players at global bourses improved on Wednesday from the fundamental point of view in spite of the political news from the U.S. American indices also went above the short-term support range, which creates some optimism in regards to a further increase,” Veles Capital’s analyst Yelena Kozhukhova said.

On Thursday, investors will track statements of representatives of the European Central Bank and the U.S. Federal Reserve System, which would allow them to evaluate prospects of further monetary stimulation. “At the moment, ‘bears’ are not as strong, so a possibility for the growth to restore is still here,” Kozhukhova said.

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