Russian stocks can rise on US futures', oil price increase

MOSCOW, May 26 (PRIME) -- The Russian stock market will likely open with a positive gap on Wednesday on the back of an increase in U.S. stock market futures and oil prices, analysts said.

"The external background has been positive today: U.S. futures have been adding about 0.33% ahead of opening of our market. Industrial and precious metals were increasing, oil has remained higher than U.S. $68.5 per barrel," Alor Broker’s senior analyst Alexei Antonov said.

"This is why, the MOEX Russia Index has good chances of continuing a slow movement towards the 3,700 level which will create a basis for setting new highs in future," Antonov said.

Georgy Vashchenko, head of the department for operations on the Russian stock market of investment company Freedom Finance, said that the MOEX Russia Index could set a new record on the back of Sberbank shares growth.

According to Antonov, gold producers' shares remain a promising asset as gold continues to grow towards a resistance of $1,920. The upward trend in gold remains in force, and prices can reach $2,000 quite soon.

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