Russian stocks may rise on stronger ruble, foreign floors growth
MOSCOW, Apr 10 (PRIME) -- The Russian stock market may increase at Friday opening because the dollar-denominated RTS will benefit from strengthening of the ruble, while the MICEX may resume growth on positive market dynamics abroad, analysts said.
“Today the market dynamics will much depend on the RTS’ ability to consolidate above a 1,000 level. From our point of view, it may well happen, in particular, on the back of the ruble strengthening. In this case, the MICEX may resume positive dynamics as well,” Andrei Dirgin, analyst at Alfa-Forex, said.
The ruble reached record highs for 2015 on Thursday, when it grew to 52.11 against the U.S. dollar and to 56.11 against the euro.
The strengthening of the ruble will support the dollar-denominated RTS, Olma senior analyst Anton Startsev said. A strong ruble affects the MICEX negatively, and most of all, it hits stocks of exporters, IT Invest analyst Vasily Oleinik said.
There was mainly positive dynamics on foreign markets on the evening of Thursday and on Friday in the morning, which will support both of the Russian indices, Promsvyazbank analysts said.
Investors will seek for shares of companies generous in dividends before the dividend season starts and they will prefer to open long positions, Finam analyst Anton Soroko said.
The MICEX will come back to a notch of 1,690–1,700 soon, the Promsvyazbank analysts said.
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