Russian stocks may grow on improved background, oil rebound

MOSCOW, Aug 25 (PRIME) -- Russian stocks may increase at the opening on Tuesday, as the market will try to regain part of earlier losses amid improved foreign background with a rebound in oil prices, analysts said.

“We expect the Russian market to open at around 1,640 points at the MICEX index and with a growth of the RTS index,” Oleg Shagov, head of analytical department at investment company Solid, said.

“The influence of the key external factors on the Russian stock market is moderately positive today at the start of the day, under our estimates,” he said. Brent oil price is partially regaining losses, growing around 1%, U.S. stock index futures are growing, and leading Asian stock indices are demonstrating mostly positive dynamics.

The MICEX will add up to 0.5% at the trade opening, while the RTS is projected to grow by around 1%, Promsvyazbank analyst Ilya Frolov said in a research note.

However, the level of volatility of global financial and commodities markets remains very high, and no “surprises” can be ruled out during the day, Shagov said.

End