Russian stocks can rise slightly as oil price consolidates

MOSCOW, Apr 21 (PRIME) -- The Russian stock market is likely to edge up at the start of trading on Friday because of oil price consolidation and an overall neutral external background, analysts said.

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

Bogdan Zvarich, an analyst at investment company Finam, said that Russia’s MICEX can grow about 0.3% at the opening.

The Brent oil futures are close to a U.S. $53 per barrel level, as investors are waiting for a U.S. drilling activity report release.

The U.S. stock market futures are little changed, the Asian markets are mostly rising. The European premarket trading signals a small increase later, at the trading session start.

Zvarich said, the U.S. secondary market housing sales will be the most important foreign statistics and can affect the Russian market trends.

Shagov said that operating results of Magnit and Rusagro, and recommendation for dividends by the board of directors of Gazprom Neft are the most anticipated domestic corporate events.

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