The Russian stock market may continue the Wednesday’s growth on Thursday as investors are still under the impression that President Vladimir Putin’s agreements with the OSCE will help to solve the Ukrainian crisis, analysts said.

“I presume that the MICEX will open with purchases. The market may reach 1,380 on the MICEX in the first half of the trading session and find resistance there. The intraday trading band will be at 1,330–1,400 on the MICEX,” Maxwell Capital analyst Alexander Dvurekov said.

Investors will continue purchases, as the geopolitical conflict de-escalated, Alexei Bystrov, deputy CEO of investment company Olma, said.

Putin promised on Wednesday to advocate for the postponement of Ukraine’s east pro-Russian protesters referendum scheduled on May 11. He also announced that military authorities had pulled off troops from the Ukrainian border.

The growth of China’s export and import figures in April released earlier will support the bullish mood on the Russian market, Bystrov said.

Germany’s industrial output and U.S.’ jobless claims will influence the trends at the Moscow Exchange to a certain extent, Oleg Shagov, Promsvyazbank’s senior analyst, said.