Russian stocks may edge up at opening thanks to crude price rise

MOSCOW, Apr 2 (PRIME) -- The MOEX Russia and the RTS indices may grow at the opening on Thursday following rising crude prices and positive dynamics of global bourses, analysts said.

“We expect the Russian stock market to open modestly higher and continue the upward dynamics unless the U.S. futures, which demonstrate a rise in the morning, reverse,” Alor Broker analyst Alexei Antonov said.

Stocks of oil major Rosneft will continue to grow and oil companies Gazpromneft and Lukoil will reverse upwards thanks to the Brent crude price bouncing back to around U.S. $27 per barrel, he added.

Antonov also expects a rise in Norilsk Nickel’s stocks thanks to a 3% advance in palladium prices.

Olma senior analyst Anton Startsev said that the RTS index may increase following crude prices, but there is still uncertainty concerning the length of the COVID-19 pandemic and corresponding restrictive measures.

Russian traders will also follow 2019 financial results releases by oil company Tatneft and grocery retailer O’Key Group.

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