Russian stocks may grow slightly on oil, US stock futures’ gains

MOSCOW, Mar 28 (PRIME) -- Russian stocks may open with a small positive gap on Monday because oil prices and U.S. stock market futures are growing, analysts said.

“In my opinion, bearing in mind the positive external background and growing oil, we can expect ascending dynamics of the MICEX in the first half of the day. I expect to see the oil and gas sector, which was correcting on Friday (March 25), becoming the growth leader of the MICEX,” Finam analyst Timur Nigmatullin said.

Several European trading floors will be closed for Easter on Monday, the pre-market data signals an increase of the rest of indices during the session start, Oleg Shagov, head of investment company Solid’s analytical department, said.

The activity of investors in Russia will be rising but will remain slightly muted because of the European holidays, Shagov said.

The U.S. stock market futures are slightly rising, while Asian markets are showing mixed dynamics, all in all, there are no reasons for strong dynamics of Russian stocks, Olma senior analyst Anton Startsev said.

The RTS will likely consolidate below 900 in the short term, Startsev said. The MICEX can open at about 1,870, Shagov said.

The board of directors of agricultural holding Rusagro will hold a meeting on Monday, and the company will release a financial report for 2015 under International Financial Reporting Standards (IFRS), which will provide Russian investors with important information, analysts said.

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