Russian stocks to rise on positive statistics from China, Japan

MOSCOW, Nov 16 (PRIME) – The Russian stocks are likely to open higher on Monday as China’s retail turnover and industrial output statistics for October as well as Japan’s economic growth and consumer spending figures improved the market mood all around the world, analysts said.

“An increase of the RTS Index is possible at the beginning of trade today as demand for risk recovers on the global markets in general,” investment company Olma’s senior analyst Anton Startsev said.

“The data published this morning showed that the Chinese economy has returned to growth --  China’s retail turnover and industrial output in October turned out to be higher than a year earlier.”

The U.S. stock indices closed 1.0–1.4% higher on November 13, the futures for the indices are in the green zone, the European bourses grew on November 13, while the Asian floors showed positive dynamics on Monday, Startsev said.

“The external background for the Russian market is favorable as of 8.20 a.m. Moscow time. Last night, Japan reported an increase in its gross domestic product and in consumer spending,” Alexei Korenev, analyst at Finam, said.

“China published optimistic data on the dynamics of industrial output, retail sales, and the labor market. As a result, all Asian stock floors are growing by 0.5–2% now. The futures for all major stock indices of the world are also gaining 0.8–1.1% on average. It is likely that we will see a good start of trading.”

Local investors will track a financial report of agricultural holding Rusagro for July–September and January–September. Metals giant Norilsk Nickel is to close the register for an extraordinary meeting of shareholders, and Magnitogorsk Iron and Steel Works (MMK) is to hold its investor day. The OPEC+ technical committee is to meet to discuss the situation on oil markets, Korenev said.

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