Russian stocks seen rising early on Powell's dovish speech

MOSCOW, Jul 28 (PRIME) -- The Russian stock market will likely increase on Thursday morning soothed by a decision of the U.S. Federal Reserve System (Fed) to raise the key rate by 75 basis points instead of 100 bps, and Chairman Jerome Powell’s ruling out aggressive policy toughening, analysts said.

"Speaking about the global markets’ mood on Thursday morning, it can be characterized as positive. The leading trading floors in Asia add up to 1.3%. The futures for the key U.S. indices have corrected slightly, losing up to 0.3%. The October futures for the Brent oil added 1.2% to about U.S. $ 102.9 per barrel," senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

According to Zvarich, the market focused on the statements that the Fed rate has reached a neutral level, and a less aggressive policy toughening would be pursued. The U.S. markets grew at the end of the session.

Alor Broker analyst Alexei Antonov said that an inflow of money from the deposits opened in spring at about 20% that matured recently will support the Russian market additionally.

Antonov said that the oil sector may remain under some pressure on the news that the G7 countries plan to cap the prices on Russian oil.

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