Russian stocks may continue to follow Gazprom-driven growth trend

MOSCOW, Sep 1 (PRIME) -- The Russian stock market may open with increase on Thursday following the boost it received the day before thanks to the rise of Gazprom’s stocks, analysts said.

“The Russian market’s positive dynamics may continue today driven by further growth of Gazprom’s securities but will be more reserved. Demand for the Russian stocks will be hold down by a considerable worsening of the situation on the energy market,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

According to Zvarich, the moods on the global floors can be described as negative. The leading Asian floors are losing 1.9%, except China with a 0.2% increase. The main U.S. stock futures are falling 0.6%. The Brent oil futures fell about 0.6% and trading about U.S. $95 per barrel.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, said that the state of the external background is “moderately negative” before the opening of trade in Russia and that “it creates conditions for the MOEX Russia Index’s opening with a certain decrease.”

The news flow includes the release of manufacturing purchasing managers’ indices for the E.U. and the U.S.

End