Russian stocks to increase on US market growth, stronger ruble

MOSCOW, Sep 16 (PRIME) -- The Russian stock market will open with an increase on Wednesday because the MICEX will react to the U.S. stocks growth on Tuesday evening, and the RTS will follow the ruble strengthening, analysts said.

“The MICEX will reflect a strong closing of the U.S. stock market in the first minutes of the trade,” Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said.

The MICEX will open at about 1,720, and the RTS will increase at the opening of the trade because of the ruble strengthening, Oleg Shagov, head of the analytical department at investment company Solid, said. The ruble can continue growing amid a high demand before tax payments, Anton Startsev, senior analyst at investment company Olma, said.

The trade on Wednesday will be calm because investors will still be waiting for the results of the U.S. Federal Reserve System (Fed) meeting, Startsev said.

Traders will pay close attention to the U.S. inflation figures release later on Wednesday because the Fed decision on whether to raise the key rate will depend on these figures, Shagov said.

The U.S. oil reserves data, also to be released on Wednesday, can cause some turbulence on the Russian stock market, Shagov said.

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