Market Buzz: rising on global optimism

Russian indices may close the week on an upbeat note on the back of positive news from both domestic and foreign markets.

Wednesday’s trading session marked a second consecutive day of growth for Russian markets, with the RTS adding 2.51% to reach 1,572.6 points, and the MICEX going up 1.06% to 1,514.72 points.

The Russian baking sector remained a driving force for the markets, with shares in VTB, Sberbank and Vozrozhdenie Bank being among the growth leaders.

The indices were also pushed up by global optimism on the back of “the good corporate news in the US, statements of the US Fed on preserving the low interest rate till 2014, and the expectation of an end soon to the negotiations on the Greek debt,” analysts from Veles Capital noted.

Alexandre Ryvkin from market research at Metropol IFC says a slight correction is possible on Friday, but overall positive sentiment is likely to remain both short- and long-term.

“We think that the positive January will be followed by an equally positive February,” he told RT.

Also, a good announcement from the Davos Economic Forum will certainly have its positive say in deciding the market dynamics.

“The most precious will be news concerning the situation with improving the debt problem in Europe,” added Pavel Emelyantsev from Investcafe.