Russian stocks may rise on ruble regaining growth expectations

MOSCOW, Apr 21 (PRIME) -- Russian stocks will likely increase at opening on Tuesday as the ruble is expected to start regaining growth following a decline on Monday caused by the central bank’s decisions, analysts said.

On Monday, the central bank decided to raise minimum interest rates at auctions for all repo deals and foreign currency loans secured against foreign currency-denominated credits by 0.50-0.75 percentage points in order to restrain growth of the Russian ruble. “Nevertheless, we believe that the ruble will start regaining lost positions already today,” Andrei Dirgin, head of Alfa-Forex’ analytic department, said.

“We expect the growth of the Russian market to continue today. Effect from the central bank’s actions will most likely fade away, and indices will be able to continue rising,” Dirgin said.

Oil prices have fixed at slightly above U.S. $63 per barrel on lack of major drivers, the analyst also said.

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