Russian stocks may grow as oil price rises over $40/bbl

MOSCOW, Mar 17 (PRIME) -- Russian stocks may increase at the opening on Thursday on the back of oil prices growing over U.S. $40 per barrel again, analysts said.

“We expect the Russian stock market to open with an increase to 1,880 points at the MICEX, assuming that amid the favorable foreign background this stock indicator will try to win back losses suffered earlier this week,” Oleg Shagov, head of investment company Solid’s research department, said.

The influence of the key external factors that significantly affect the Russian financial market behavior is positive today at the start of the day, Shagov said.

Brent oil price has again risen over $40 per barrel reacting to the released data on the U.S. oil and oil product reserves that grew at a lower-than-expected pace and the dollar’s weakened position on the international currency market, the analyst said.

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

“Growth is possible today at the start of trading,” Olma senior analyst Anton Startsev said. The U.S. Federal Reserve System’s comments made on Wednesday allow the assumption that risks connected with possible tightening of the monetary policy have reduced, he said.

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