Russian stocks can open higher on mounting external positivity

MOSCOW, Jul 14 (PRIME) -- The Russian stock market can demonstrate another trading session of growth on Friday in light of optimistic global sentiments and advancing crude prices, analysts said.

“Purchases of Russian stocks can prevail at the start of the trading session so the MOEX Russia Index can recoup part of its yesterday’s losses in the first hours of trading,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

The market will be supported by stronger crude prices with the Brent oil price consolidating above the upper bracket of the U.S. $75–80 per barrel range, which can signal possible further growth of energy prices and positive dynamics on external stock exchanges.

Global investors’ appetite for risk is rising so a wave of growth in seen on the world’s stock markets. The main Asian benchmarks are adding up to 1.3%, the core U.S. indices are consolidating near the levels of previous closing, and the nearest Brent oil futures are increasing by 0.2% to $81.5 per barrel, Zvarich added.

Alor Broker analyst Alexei Antonov said that the Russian market corrected only slightly on Thursday following several consecutive days of growth, which demonstrates investors’ unwillingness neither to sell local shares nor even to take profit so the market is likely to continue its upward dynamics.

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