Stocks to rise on higher demand on emerging markets, strong oil

MOSCOW, Jul 11 (PRIME) -- The Russian stock market is likely to edge up in the morning and advance more later in the day on Thursday thanks to favorable sentiment on the global market and rising demand for emerging assets, analysts said.

"We expect the MOEX Russia Index to open around 0.3% higher at 2,830… to get advantage of a moderate improvement of the external background. The benchmark is likely to rise to 2,840–2,850 later in the day," Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The U.S. indices futures and Asian markets are seen 0.15–0.4% higher, and the Brent oil price surged to over U.S. $67 per barrel, he added.

Olma senior analyst Anton Startsev said that the global environment is positive enough to push the RTS index up to above 1,400 thanks to U.S. dollar weakening after the testimony of U.S. Federal Reserve Chair Jerome Powell that supports demand on emerging markets.

Investors will also follow publication of operating results for April–June by agricultural holding Rusagro, RAS financial results for January–June by power producer Unipro, and IFRS results for January–June by power producer Enel Russia among other corporate events.

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