Russian stocks can rise thanks to improving external background

MOSCOW, Nov 3 (PRIME) -- The Russian stock market can edge up on Friday in light of a better external background including recovering crude, analyst said.

“We expect prevailing purchases in Russian shares at the start of the trading session today thanks to an improving external environment, including stronger crude prices. As a result, the local market will try to recoup yesterday’s losses and consolidate above 3,200,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

There are positive sentiments on global markets, he added. The main Asian bourses are increasing by up to 1%, the core U.S. indices futures are consolidating near the levels reached during a significant previous rise. The nearest Brent oil futures continue to grow to above U.S. $87 per barrel.

Promsvyazbank analysts said that the ruble looks stable against the major currencies in the morning and expect the ruble to avoid lengthy correction due to fundamental factors.

End