Russian stocks to rise on end of draft, higher US markets

MOSCOW, Oct 18 (PRIME) -- The Russian stock market is likely to start the Tuesday trading session higher on the news about completion of partial military mobilization in some regions and a favorable external background, analysts said.

“The week started with a noticeable growth, and the news about conclusion of the partial military mobilization in the capital triggered a rally … We expect growth of up to 2%. The positive news will continue driving a wide range of securities upward. The MOEX Russia Index guidance is 2,000–2,050,” Georgy Vashchenko, deputy director of the research department of Freedom Finance Global, said.

Russ-Invest senior analyst Roman Blinov said that further market growth is possible even though there are no many serious reasons.

“Even if the market continues growth right now, it will happen only because of the general expectation of a ‘global miracle’ for Russia. But if we look closely into that, the times like these are exactly the time and place for growth and miracles,” Blinov said.

Head of Alor Broker investment consulting department Alexei Antonov said that the background for the Russian market was positive on Tuesday morning.

“The rapid growth of the U.S. indices continues, while the oil price is gaining 0.8%. It creates prerequisites for a positive opening of the market, but the MOEX Russia Index would need an inflow of news in the middle of the day in order to continue growing,” Antonov said.

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