Russian stocks may edge up slightly at opening on positive environ

MOSCOW, Jul 6 (PRIME) -- The Russian stock market may open slightly higher and try to rise during the day backed by a modestly positive global background, analysts said on Friday.

“We expect the MOEX Russia Index to open with marginal changes within a 2,345–2,350 range… After a neutral start of trade we may see attempts to break through a 2,350 mark following yesterday’s growth. At the same time, there are no objective factors for a more significant growth of the local market,” Vitaly Manzhos, senior risk manager at investment company Nord Capital, said.

Crude prices will remain the key external guideline for Russian traders in the second half of the session, he also said and added that the global background looks modestly positive.

U.S. futures indices and Asian benchmarks are seen higher while the Brent oil price is at around U.S. $77.4 per barrel.

Russian traders will also follow the release of Russian Accounting Standards (RAS) financial results for January–March by top bank Sberbank and dividend decision of fertilizer producer PhosAgro’s extraordinary meeting of shareholders.

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