Russian stocks to rise on US government news, positive environment

MOSCOW, Feb 12 (PRIME) -- Russian stocks are likely to rise at opening on Tuesday supported by the news that the U.S. Congress struck a deal to avoid another government shutdown and the external environment, analysts said.

“We expect the MOEX Russia Index to open with a noticeable gain of about 0.4% close to 2,520. The levels of 2,510 and 2,500 will act as the closest resistance, while the levels of 2,530 and 2,540 will again become resistance. The MOEX Russia Index will price in the morning improvement in the external background in the first few minutes of trade,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The U.S. stock index futures rose by 0.5% in the morning, the Brent oil price grew by 0.8%, Japan’s Nikkei225 index increased by 2.5%, and Hong Kong’s Hang Seng is also in the green zone making for a positive background, Manzhos said.

“The Russian stock induces may increase at the beginning of the day today in line with the foreign bourses, but it is too early to speak about the end of trade around 1,200 of the RTS Index,” Olma’s senior analyst Anton Startsev said.

Manzhos also said that local investors will track dynamics of oil prices and the opening of the U.S. stock market during the day, and that the release of the U.S. December job vacancies may also have some impact on trade.

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