Russian stocks to open higher amid moderately positive background

MOSCOW, Oct 8 (PRIME) -- The Russian stock market can open higher and continue to advance during the day on Friday thanks to a moderately positive external background, analysts said.

“An upward trend persists on the Russian stock market. The MOEX Russia Index can rise into the 4,300 area if the external background remains calm. It is early to speak about a reverse possibility, the lower bracket of the upward channel is seen at 3,900–3,950, and no fall to the marks is expected in the next few days,” Director of BCS Broker’s stock market experts department Vasily Karpunin said.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, said that the MOEX Russia Index is likely to grow by 0.1–0.5% at the opening and can advance to 4,250–4,270 later in the day.

The main U.S. indices futures are trading mixed, the Brent oil price has added 1.4%, and Asian markets are seen in the positive territory, he also said.

Karpunin said that oil company Rosneft, gold producer Polyus, gas company Novatek and fertilizers maker Acron will be trading ex-dividend, but their influence on the stock market dynamics will be limited.

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