Russian stocks may grow on stable oil, neutral background

MOSCOW, May 4 (PRIME) -- Russian stocks may grow at the opening on Thursday after a recent decline amid a neutral background and stable oil prices, analysts said.

“We expect the Russian stock market to open at around 1,995 points at the MICEX index, assuming that this stock indicator will try to grow above the psychological notch of 2,000 points again if the foreign background improves,” Oleg Shagov, head of investment company Solid’s research department, said. On Wednesday, the MICEX closed at 1,993.66.

The ultimate influence of key external factors that have a significant impact on the Russian financial market is close to neutral today, the analyst said.

Brent oil futures are fluctuating around U.S. $50.7 per barrel remaining under pressure of ongoing growth of the U.S. oil production.

The leading U.S. stock index futures are slightly growing and main Asian stock indicators are not showing single dynamics.

Finam analyst Bogdan Zvarich said the Russian stock market may partially restore its positions in the first hour of trading after Wednesday’s decline.

Among other corporate events, investors will follow publication of national flagship carrier Aeroflot’s financial results for January–March under Russian Accounting Standards.

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