Russian stocks may edge up as oil price reaches $55/barrel

MOSCOW, Dec 19 (PRIME) -- The Russian stock market may increase on Monday in the morning as oil futures rise to the level of U.S. $55 per barrel, analysts said.

“Taking into account a significant rise of oil futures in the morning, the state of the external background before the start of trade in Russia can be called moderately positive,” Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said

Brent futures grew to $55 per barrel. U.S. stock market futures were rising in the morning, the European premarket signals a positive opening of the trading session. Oleg Shagov, head of investment company Solid’s research department, said all these factors are making for a moderately positive background for the opening of the trading session in Russia.

The MICEX can open at about 2,235 and under a positive scenario, it will take back losses of the end of the last week. Shagov said

Russian market participants will be waiting for statements from a meeting between President Vladimir Putin and representatives of business circles, and also for a speech by Chairwoman of the U.S. Federal Reserve System Janet Yellen, Shagov said.

Manzhos said that no important foreign statistics is planned to be released on Monday, and investors will pay attention to oil price fluctuations.

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