Russian stocks may grow on high oil, positive background

MOSCOW, Mar 27 (PRIME) -- Russian stocks may increase at the opening on Tuesday supported by high oil prices and a positive foreign background, analysts said.

“A positive foreign background has formed today before the opening of the Russian stock market, and dynamics on global stock floors will be the main reason for purchases,” Freedom Finance senior analyst Bogdan Zvarich said.

The U.S. stock index futures continue positive dynamics rising by 0.4%, Japan’s Nikkei225 is adding 2.5%, and China’s Shanghai Composite is growing 1.1%, the analyst said.

The energy market, where the Brent oil price maintains the level of U.S. $70.3 per barrel, will also support Russian stocks.

“In these circumstances, we expect a predominance of purchases in Russian shares at the start of trading, which will allow the MOEX Russia Index to win back part of yesterday’s losses. The market will try to move up to 2,260–2,270 points,” Zvarich said.

Olma senior analyst Anton Startsev said that “some “rebound” at the RTS index is possible today at the start of trading – softening of the foreign background can help to reduce speculative short positions. At the same time, main factors of risk remain in force, and a resumption of a steady growth on the market so far seems unlikely.”

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