Russian stocks can grow on oil price, foreign markets rise

MOSCOW, Jun 26 (PRIME) -- The Russian stock market will likely increase on Monday at the start of the session on the back of an oil price growth and a positive dynamics on foreign markets, analysts said.

“The ultimate influence of the key external factors significantly affecting the behavior of the Russian financial market has been moderately positive today at the start of the day in our estimates,” Oleg Shagov, head of investment company Solid’s research department, said.

The Brent price rebounded above U.S. $46 per barrel after five weeks of losses. U.S. stock market futures are adding and the key Asian markets are demonstrating a positive dynamics. The premarket of the European session signals a small increase later in the day. All these factors will contribute to a positive opening of the Russian stock market, Shagov said.

The MICEX is expected to open at 1,870 after closing at 1,867.46  on June 23 and can continue the last week’s positive trend if the external background is favorable, Shagov said.

Olma senior analyst Anton Startsev said that the RTS can return to the 1,000 level from 988.93 as of June 23.

Shagov said that meetings of boards of directors of Aeroflot and RusHydro are expected to become the main corporate events of Monday,

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