Advancing crude prices may push Russian stocks upwards

MOSCOW, Apr 30 (PRIME) -- The Russian stock market may edge up at the opening on Thursday and continue the trend later in the day thanks to rising crude prices, analysts said.

“Considering the results of the previous evening session we can assume that at the current external background the MOEX Russia Index may open higher,” Director of BCS Broker’s stock market experts department Vasily Karpunin said.

The global background is mixed with Asian markets seen in the positive territory, the U.S.’ S&P500 falling around 0.1% and the Brent oil futures with expiration late in May jumping 6.8%, he added.

Olma senior analyst Anton Startsev said that the RTS index may continue its upward trend thanks to favorable foreign environment.

Investors in Russia are also likely to follow a slew of financial and operating results releases for January–March from hydropower company RusHydro, top lender Sberbank, steelmaker Novolipetsk Steel (NLMK), independent gas producer Novatek, metals giant Norilsk Nickel, Russia’s largest children goods retailer Detsky Mir and other large companies.

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