Russian stocks can edge up at opening thanks to strengthening oil
MOSCOW, Jun 14 (PRIME) -- The Russian stock market can demonstrate positive dynamics at the opening on Wednesday thanks to the support of rising crude prices and moderately positive external background, analysts said.
“Purchases can still prevail on the Russian stock market at the opening on Wednesday thanks to recovering oil prices. The market continues its movement under a growth scenario with targets lying within the range of 2,800–3,000,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.
The external environment looks moderately positive with the main Asian indices rising by up to 1.5%, except for the South Korean bourses, falling by 0.7%, the core U.S. indices futures correcting down by around 0.2%, and the Brent oil price adding 0.4% to U.S. $74.6 per barrel, he also said.
Alor Broker analyst Alexei Antonov said that the local market can continue growth in the first half of the day on Wednesday, but correction is possible later as investors can be willing to take profit.
The St. Petersburg International Economic Forum will begin on Wednesday and last until Saturday.
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