MOSCOW, Oct 24 (PRIME) – The Russian stocks are likely to open neutrally on Thursday as international investors focus on reports of U.S. companies, analysts said.
“The background prior to the opening of the Russian stock market is neutral today. The prices for oil and the Chinese indices ease during the Asian session, so the Russian market can only grow at the opening of trade due to internal factors like it happened yesterday,” investment company Solid’s analyst Vadim Kravchuk said.
On Wednesday, the Russian market rose primarily due to a spike of oil company Surgutneftegas, which grew likely on insider trade supported by confidence that the dividends on ordinary shares will be made equal with the dividends on preferred shares, Kravchuk said.
“Technical analysis points to a possibility of an upward movement of the RTC Index to stop close to 1,400. At the same time, attention of global investors is still focused on the flow of corporate reports, and Twitter, American Airlines, Raytheon, Dow, and Valero Energy are to report before the U.S. trade starts today,” investment company Olma’s senior analyst Anton Startsev said.
But Alor Broker’s analyst Alexei Antonov said that the MOEX Russia Index may open with an about 0.2% increase as the oil prices grew more than 2% on Wednesday, which should support Russian shares at the beginning of Thursday trade together with the weak ruble.
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