Russian stocks can grow to recover from previous losses

MOSCOW, Jul 18 (PRIME) -- The Russian stock market can continue recovering from the previous week’s losses on Monday rising by up to 1.5%, analysts said.

“We expect (the Russian stock market) to grow within 1.5%. The guidance for the MOEX Russia Index is 2,100–2,150,” Georgy Vashchenko, head of investment company Freedom Finance’s department for trade operations on the Russian stock market said.

Vashchenko sees the ruble fluctuating within the range of 57–59 rubles per U.S. dollar and does not believe that a fall in crude prices will impact the national currency’s rate.

Director of BCS Broker’s stock market experts department Vasily Karpunin said that the Brent oil price is consolidating at around U.S. $100 per barrel, and the crude market outlook is neutral as the price stays above an important support level of $96–98 per barrel.

Alor Broker analyst Alexei Antonov expects a rise of Russian gas giant Gazprom’s shares on the news that Canada has sent a maintained turbine for the Nord Stream gas pipeline to Germany.

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