Russian stocks may grow amid rising oil, neutral background

MOSCOW, Mar 30 (PRIME) -- Russian stocks may edge up at opening on Thursday amid growing oil prices and a neutral foreign background, analysts said.

“We expect the Russian stock market to open at around 2,025 of the MICEX index today, assuming that amid a mixed foreign background this stock indicator will continue fluctuations around the current levels, being guided by changes of the foreign background,” Oleg Shagov, head of investment company Solid’s research department, said. On Wednesday, the MICEX closed at 2,023.71.

The ultimate influence of key external factors that have a significant impact on the Russian financial market is close to neutral today, the analyst said.

Brent oil futures are fluctuating above U.S. $52 per barrel on signs of growing demand for gasoline ahead of the spring-summer automobile season, as well as on disruption of oil supplies from Libya, Shagov said.

The leading U.S. stock index futures are firming, and main Asian stock indicators are mostly demonstrating negative dynamics.

Finam analyst Bogdan Zvarich said he expects Russian stocks to grow moderately at the opening amid growing oil prices. If the Brent oil price fully consolidates above $52.5 per barrel, the market can continue growth, he said.

At home, investors will follow publication of financial results by hydropower giant RusHydro and food retailer O’Key.

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