MOSCOW, Jul 10 (PRIME) -- The Russian stock market may edge up at the opening on Wednesday thanks to restoration of global optimism over trade negotiations between the U.S. and China and recovering oil prices, analysts said.
"The foreign background looks moderately positive prior to the Russian stock market session. Global markets received an impetus for gains following several days of neutral dynamics thanks to information about continuing trade negotiations (between the U.S. and China)… Chinese benchmarks’ decline slowed down, and the U.S. and European markets are to keep on advancing," investment company Solid analysts said.
The Brent crude price grew to above U.S. $64 per barrel in reaction to rising tensions between Iran and the West, they added.
Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the MOEX Russia Index to open around 0.3% higher, and Olma senior analyst Anton Startsev sees no ground for the RTS index to leave its consolidation band around the 1,400 mark.
Russian precious metals producer Polymetal International will offer 21 million shares, or around 4.5% of its capital, which may send the stock 3–4% down before a bounce-back, Solid also said.
Russian traders will also follow April–June operating results releases by raw diamond mining giant ALROSA, real estate developer PIK Group, and meat producer Cherkizovo Group.
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