Russian stocks may rise on positive markets, strong banking stocks

MOSCOW, Oct 7 (PRIME) -- The Russian stocks market may open with a rise on Thursday, following strong global markets positivity and powerful banking sector growth, analysts said.

“The external background is generally not bad this morning. Since morning futures on Western indices are up. If the current background remains, the opening of the MOEX Index will be above the level of Wednesday’s closing,” Vasily Karpunin of BCS Investment Group said.

“The U.S. index futures are adding about a third of a percent. So we are going to open with growth. … However, we don’t count on a strong and confident growth, it will be hindered mainly by oil, which fell to U.S. $81 per barrel,” Alexei Antonov of Alor Broker said.

Antonov added that the banking sector traded much better than the market on Wednesday and still looks very strong, which allows for growth to continue.

“The MOEX Index is likely to consolidate. There are no evident incentives to resume aggressive purchases in the shares of Russian companies so far. … The external background … can again be characterized as moderately positive. This creates conditions for the MOEX Index to open with a moderate increase,” the analytical team of Algos Capital headed by Vitaly Manzhos said.

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