Russian stocks can grow as oil prices continue to increase - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Russian stocks can grow as oil prices continue to increase

MOSCOW, May 17 (PRIME) -- The Russian stock market will likely open higher on Thursday to catch up with the oil prices, which have risen by more than 5% since the start of May, analysts said.

УTaking into account a strong increase of oil futures in the evening, the state of the external background before the start of trade in Russia can be qualified as moderately positive,Ф Vitaly Manzhos, senior risk manager at investment company Nord Capital, said.

The Brent futures grew 0.1% in the morning after a strong Wednesday evening rise, gold futures remained unchanged. JapanТs Nikkei 225 rose 0.7%, Hong KongТs Hang Seng fell 0.05%. All these factors will likely contribute to a positive start of the session in Russia, Manzhos said.

Olma senior analyst Anton Startsev said that oil prices have grown by more than 5% since the start of May and investors realize that this rise is not reflected in Russian blue chips and the ruble rate.

According to Manzhos, the MOEX Russia Index will grow by about 0.3% and open close to 2,345. The levels of 2,330 and 2,320 will be support and 2,350 and 2,360 will be resistance.

Startsev said that the RTS will likely consolidate close to 1,200.


17.05.2018 09:31
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 71.9654 +0.0023 22 may
USD 64.5372 +0.0484 22 may
Stock Market Indices
1D 1W 1M 1Y
rtsi 1279.12 +1.82 18:50 21 may
micex 2616.53 +1.75 18:50 21 may
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 207.80 +3.49 18:49 21 may
lkoh 5300.00 +2.46 18:49 21 may
rosn 415.95 +1.90 18:47 21 may
sber 232.71 +2.97 18:49 21 may
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 71.9225 -0.0725 14:59 21 may
USDTD 64.4375 -0.3225 17:44 21 may