Russian stocks may grow thanks to improving foreign background

MOSCOW, Mar 6 (PRIME) -- The Russian stock market can start optimistically on Monday thanks to improvement of the global background and consolidation of the Brent oil prices above U.S. $85 per barrel, analysts said.

“Positive sentiments can persist on the Russian stock market at the start of the trading session on Monday. Improvement of the situation on external bourses and consolidation of the Brent oil price above $85 per barrel can trigger purchases in Russian stocks,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

“As a result, the MOEX Russia Index will attempt to break upwards through February’s peaks of slightly below 2,300. The rise above the mark will support the scenario of the Russian market’s recovery with a possible target of 2,400–2,500,” he added.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the MOEX Russia Index to open with marginal changes of up to 0.5% within the range of 2,260–2,285.

He sees the current global environment as uncertain with the main U.S. indices futures rising by around 0.3%, the Brent oil price losing 0.6%, and the core Asian markets trading mixed.

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