Russian stocks may grow as UK likely to stay in EU, oil price rise

MOSCOW, Jun 22 (PRIME) -- The Russian stock market may increase at the opening on Wednesday because the U.K. polls show that the number of people willing to remain in the E.U. prevail, and the external factors important for Russian stocks quotations, in particular oil, are seeing positive dynamics, analysts said.

“A certain increase is possible in the start of the trade. The latest poll in the U.K. demonstrated an increase of the share of respondents who plan to vote against leaving the E.U. because the share of the undecided shrank,” Olma senior analyst Anton Startsev said.

Oil futures are decreasing to the U.S. $51 notch on a report of the U.S. reserves decline by the American Petroleum Institute (API) and concerns over the fate of the truce in Nigeria. U.S. stock market futures are slightly rising as well as the key Asian indices, the European markets will likely grow in the morning, Oleg Shagov, head of investment company Solid’s analytical department, said.

Shagov said he expects the MICEX to open at about 1,910.

A speech of President Vladimir Putin at a plenary session of the State Duma, the parliament’s lower house, can influence the market moods to a great extent later Wednesday, Shagov said. The State Duma will hold the last session on Friday, and the meeting with Putin will summarize the efforts.

On the corporate stage, fertilizer maker Uralkali will publish financial results for January–March, the board of directors of M. Video will hold a meeting to discuss results of the January–March operations, Shagov said.

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