Russian stock market may grow amid recovery of oil prices

MOSCOW, Dec 11 (PRIME) -- The Russian stock market may increase at Monday opening amid improved moods on the global floors and the oil price recovery, analysts said.

“The improved sentiment of investors on the global floors and the recovery of oil prices may support the Russian market and contribute to its uptick. The MOEX Russia Index may increase to the level of 3,100 points given the current background,” financial marketplace Banki.ru’s senior analyst Bogdan Zvarich said.

Senior trader at managing company Alfa-Capital Vladislav Silayev said that purchases are seen on the oil market, but they are not massive so far. Brent oil amounts to U.S. $76.14 per barrel.

According to Cifra Broker’s research note, that the global markets are mixed prior to the opening of the trading session in Russia, with the Nikkei 225 rising 1.43% and the Shanghai Composite falling 1.38%.

This week, Russian investors will stay tuned to dynamics of inflation and the gross domestic product (GDP), as well as the announcement of a key rate decision by the central bank, which is expected on Friday.

According to managing company Pervaya’s portfolio manager Sofiya Kirsanova, the central bank may further raise the key rate to hold down inflation and return it to the target of 4%. Inflation remains overstated, while macroeconomic data shoes that the labor market is overheated and the economy has departed from the balanced growth path.

The news flow of the day also includes the release of a RAS financial report for November by Sberbank, Cifra Broker said.

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