Russian stocks can rise slightly as oil prices surge on Tue evening

MOSCOW, Jun 27 (PRIME) -- The Russian stock market can edge up on Wednesday at the start of the trading session thanks to the growth of oil futures the previous evening, analysts said.

“On Wednesday morning the external situation looks neutral, the barrel rises a bit but remains in the well-known corridor of about U.S. $73–76, the MOEX Russia Index has a chance to start trading with an insignificant rise of 0.1–0.2% on average. But there will be no major growth without an external reason,” Alpari senior analyst Anna Bodrova said.

Vitaly Manzhos, senior risk manager at investment company Nord Capital, said that a moderately positive start of the trading session in Russia is possible as the U.S. stock market futures fell by up to 0.2%, the Brent futures grew by 0.3% in the morning after a strong rise on Tuesday in the evening, the gold futures lost 0.3%. The Nikkei 225 fell 0.2% and Hong Kong’s Hang Seng 0.9%.

He said the MOEX Russia index can rise by about 0.4% to 2,240. The levels of 2,230 and 2,220 are seen as support and 2,250–2,260 as resistance.

Anton Startsev, a senior analyst at investment company Olma, said that the global market situation remains mixed and cannot launch an upward trend in Russia.

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