Russian stocks to rise as ECB measures spur risk appetite

MOSCOW, Mar 11 (PRIME) -- The Russian stock market will rise at Friday’s opening as investor appetite for risk increased after Thursday’s decision by the European Central Bank (ECB) to cut the key rate to zero, while rising oil prices will add to the growth, analysts said.

“The Russian stock market has good chances to resume growth in the next few days on the back of higher investors’ interest to risk and on the back of a possible oil quotations’ increase restart,” Premier-broker analyst Alexei Kozlov said.

He said that the ECB rate cut was unexpected for the market, and a subsequent release of gloomy forecasts for the gross domestic product, inflation, unemployment, euro rate and oil prices have triggered market turmoil but will support risky assets.

The Brent price grew 1.87% to U.S. $40.80 per barrel at 9:04 a.m., Moscow time.

U.S. stocks futures are rising and the key Asian markets are showing positive dynamics as well, which makes for a positive background for the Russian trading session opening, Oleg Shagov, head of investment company Solid’s research department, said.

The RTS will keep growing because of oil price increase, Olma senior analyst Anton Startsev said. The MICEX will open at about 1,880–1,885, Shagov said.

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