Russian stocks to consolidate higher thanks to global positivity

MOSCOW, Oct 12 (PRIME) -- The Russian stock market may consolidate higher on Monday thanks to a generally positive global environment, analyst said.

“We assume that the MOEX Russia Index will start the day with moderate growth, and is likely to consolidate in the positive territory unless something extraordinary happens,” investment company Finam analyst Alexei Kalachyov said.

The external background ahead of the Russian trading session looks positive, he added. The U.S. indices futures are trading higher as the U.S. markets will be closed for Columbus Day, the Asian benchmarks add significantly, but the Brent oil price lost around 0.77% to U.S. $42.5.

Olma senior analyst Anton Startsev sees consolidation just below the 1,200 mark as the most probably scenario for the RTS index.

Russian traders will also follow July–September operating results releases by steel producers Severstal and Novolipetsk Steel (NLMK) and meat producer Cherkizovo Group.

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