Russian stocks seen rising as markets hope for mild US policy

MOSCOW, Jul 29 (PRIME) -- The Russian stock market will likely increase on Friday morning after the U.S. released weak gross domestic product (GDP) data, and investors hope for a mild monetary policy toughening, analysts said.

"A positive start of trading on the Russian stock market is possible on Friday, July 29. After information about a second quarterly decline of the U.S. GDP, the majority of global markets started to grow, hoping for a moderate increase of rates by the Federal Reserve System (Fed)," Finam analyst Alexander Kovalyov said.

The oil price was nearly unchanged in the morning session, Kovalyov said.

Senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said that the MOEX Russia Index may try to break through 2,200 at the start of trade, as the Brent oil is trying to consolidate above U.S. $100 per barrel and the ruble is weakening. 

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