Russian stocks may grow amid oil prices above $35 per barrel

MOSCOW, Feb 4 (PRIME) -- Russian stocks are expected to increase at the opening on Thursday on the back of oil prices jumping to over U.S. $35 per barrel and a growth on foreign floors, analysts said.

“We expect the Russian stock market to open in a positive mode today with an upward gap of the MICEX index, assuming that thanks to the improvement of external conditions this stock indicator is capable of resuming growth after a 3-day decline and increase at least by 1% from the previous close, or to over 1,765 points,” Oleg Shagov, head of investment company’s Solid analytical department, said.

The influence of external factors that have a significant impact on the Russian stock market is positive today in the morning, Shagov said. Brent oil prices have risen to over $35 per barrel amid a sharp depreciation of the U.S. dollar and readiness of OPEC members, Russia and Oman to hold a meeting in February to discuss a possible reduction of oil production, the analyst said.

The U.S. stock index futures are growing and main Asian stock indicators are demonstrating positive dynamics.

“A growth is possible at the start of trading today,” investment company Olma senior analyst Anton Startsev said.

Russian investors will monitor statements by representatives of global monetary authorities on Thursday. The Bank of England is to release its decisions over the monetary policy, while statements by the European Central Bank President Mario Draghi, the International Monetary Fund’s Managing Director Christine Lagarde and representatives of the U.S. Federal Reserve System are expected later in the day.

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