Russian stocks may grow on oil rebound, improved background

MOSCOW, Aug 4 (PRIME) -- Russian stocks may increase at the opening on Thursday amid an oil price rebound and improving foreign conditions, analysts said.

“We expect the Russian stock market to open positively with an increase to 1,925–1,930 at the MICEX index, assuming that amid improving foreign background this stock indicator will continue winning back losses of this week,” Oleg Shagov, head of investment company Solid’s research department, said.

The ultimate influence of key external factors that have an impact on the Russian financial market is moderately positive at the beginning of the day, Shagov said. Brent oil futures have started a rebound from 3-month minimums after the statistics data indicated that the U.S. oil output resumed a decrease after three weeks of growth, the analyst said.

The U.S. leading stock index futures are not changing much, while main Asian stock indicators are demonstrating mostly positive dynamics.

“An outlined rebound of the RTS index may continue today at the start of trading, but it is too early to speak about a stable movement,” Olma senior analyst Anton Startsev said.

The stock market dynamics will depend on oil prices, the situation on Western floors, and the ruble rate. Among other corporate events, investors will follow publication of financial results of the Moscow Exchange, mobile operator VimpelCom, power producer Enel Russia and operating results of metals and mining group Mechel.

End