Russian stocks can open higher thanks to strengthening crude

MOSCOW, Nov 29 (PRIME) -- The Russian stock market is likely to edge up at the opening on Monday to recover partially from previous losses thanks to advancing U.S. indices futures and the Brent oil price growing by more than 3%, analysts said.

“We expect the MOEX Russia Index to rise significantly by 0.3–1% within the 3,825–3,850 range at the opening… And we do not rule out further attempts of the index’s correction growth into the 3,860–3,870 range later in the day,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The main U.S. benchmarks futures are rising around 0.3–1%, the Brent oil price has added 3.8%, but Asian markets are trading lower, he also said.

Head of PSB Bank’s analysis group Vladimir Solovyov said that the MOEX Russia Index can recover partially from previous losses to return to above the 3,850 mark.

Investors in Russia are also likely to follow a slew of financial results releases for July–September by gas giant Gazprom, national flagship air carrier Aeroflot and fertilizers producer Acron.

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