Russia’s MICEX to open neutrally, RTS to grow on Fed rate ruling

MOSCOW, Sep 18 (PRIME) -- Russia’s RTS stock market index will increase on Friday on a U.S. Federal Reserve System’s (Fed) decision to retain the key rate at 0.0–0.25% and the MICEX is likely to open with a marginal dynamics because of the ruble strengthening, analysts said.

“I expect the opening of the Russian market with the MICEX at 1,730 and with an increase of the RTS,” Oleg Shagov, head of the analytical department at investment company Solid, said. “The influence of the key factors which significantly impact the behavior of the Russian financial market is close to neutral under my estimates.”

Futures on Russian blue chips increased significantly on Thursday in the evening, which gives a signal that the Russian market will rise as well on Friday, Vitaly Manzhos, senior analyst at Bank Obrazovanie, said.

But the ruble strengthening will limit the MICEX increase potential, Manzhos said.

There are still plans to raise the U.S. key rate in 2015, according to a comment of Fed Chairwoman Janet Yellen at the press conference after the meeting, but market participants now appraise the chances that the rate will ascend in December at lower than 50%, while earlier there was a 60% possibility estimate, Anton Startsev, senior analyst at investment company Olma, said.

Brent is slightly gaining on Friday in the morning, so do U.S. stock market futures, both trends are positive for Russian stocks, Manzhos said.

End