Russian stocks may grow on oil price rebound, positive background

MOSCOW, Jan 19 (PRIME) -- Russian stocks may increase at the opening on Tuesday amid an oil price rebound and the overall moderately positive foreign background, analysts said.

“Some growth is possible today at the start of trading,” Olma senior analyst Anton Startsev said. “From positions of the technical analysis, a return to the psychologically important level of U.S. $30 per barrel for the Brent oil price, which had been broken through earlier, has now been outlined, which gives grounds for suspension of reduction of the RTS index as well,” he said.

China’s gross domestic product (GDP) data released Tuesday confirmed some slowing of the economic growth to 6.8% in October–December from 6.9% in July–September, but the statistics so far corresponds with market participants’ forecasts and was therefore perceived rather like decreased uncertainty than a negative factor, the analyst said.

The influence of key external factors that have a significant impact on the Russian financial market is moderately positive today at the start of the day, Oleg Shagov, head of investment company Solid’s research department, said. Brent oil prices are growing trying to consolidate above $29 per barrel. U.S. leading stock index futures are increasing and main Asian stock indicators are mostly showing growth dynamics.

End