Growing oil prices may push Russian stocks up at opening

MOSCOW, Jan 26 (PRIME) -- Russian stocks may increase at the opening on Thursday backed by a favorable foreign background and growing oil prices, analysts said.

“We expect the Russian stock market to open at the level of 2,175–2,180 at the MICEX index, assuming that amid a favorable foreign background this stock indicator will continue attempts to win back losses suffered last week,” Oleg Shagov, head of investment company Solid’s research department, said. On Wednesday, the MICEX closed at 2,176.00.

The ultimate influence of key external factors that have a significant impact on the Russian financial market is moderately positive, the analyst said. Brent oil futures are increasing on the oil minister of Kuwait saying that non-OPEC states intend to fully fulfill obligations to cut oil production.

The U.S. stock index futures are slightly growing, and main Asian stock indicators are mostly showing positive dynamics.

Japan’s Nikkei 225 is gaining 1.62%, and China’s CSI300 index is adding 0.31%, Finam analyst Timur Nigmatullin said.

Investors will follow publication of operating results by retailer Lenta, Magnitogorsk Iron and Steel Works (MMK), coal producer Raspadskaya, meat producer Cherkizovo, and silver and gold producer Polymetal International on Thursday.

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