Russian stocks may grow on positive foreign environ, rising oil
MOSCOW, Aug 1 (PRIME) -- The Russian stock market will likely open with an upward gap on Monday because of positive dynamics on foreign trading floors and a recovery of oil prices, analysts said.
“A certain rebound of the RTS is possible today in the start of the trade, the market situation has eased after publication of the U.S. gross domestic product (GDP) data. Furthermore, the results of the stress-tests of European banks published on Friday evening (July 29) were quite favorable, only two banks found themselves in a zone of a lack of capital in the stress scenario (Monte dei Paschi di Siena and Allied Irish Banks),” Olma senior analyst Anton Startsev said.
Oil futures are recovering on the back of the U.S. dollar weakening, the Brent contracts for October are rising to U.S. $44 per barrel, which is an important bullish factor for the Russian market, Oleg Shagov, head of investment company Solid’s analytical department, said.
U.S. stock market futures are growing, the key Asian markets are demonstrating positive dynamics as well, the European premarket signals opening in the green zone on Monday, all these factors will strengthen the upbeat mood in Russia, he said.
The MICEX is expected to open at 1,950–1,955, Shagov said.
The boards of directors of retailer Magnit and mobile operator MTS will meet and make proposals regarding the amount of dividends later on Monday, which can be important not only for the shares of the companies but for the market in general, Shagov said.
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