Russian stocks may grow in line with oil, activity seen low

MOSCOW, May 27 (PRIME) -- Russian stocks may grow at the opening on Monday in line with oil prices, but trading activity will be low amid a closure of the U.S. and U.K. stock markets for holidays, analysts said.

“This morning, the U.S. futures are above our close, and oil has rebounded. This speaks in favor of the MOEX Russia Index’s opening with an increase of around 0.3%. But then the ruble indicator will have to live its life, without external benchmarks, since the U.S. and U.K. markets will be closed today,” Alor Broker analyst Alexei Antonov said.

Olma senior analyst Anton Startsev said the European stock indices closed with a moderate increase, and Asian indices are also moderately growing.

Vitaly Manzhos, senior risk manager at Algo Capital, said the MOEX Russia Index may grow 0.2–0.3%, to around 2,625 points, at the opening.

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