Russian stocks may increase as oil prices, US futures rise

MOSCOW, May 6 (PRIME) -- The Russian stock market may ascend at Wednesday opening because oil prices were growing, and U.S. stock futures were in the green zone, analysts said.

“The external background and the influence of the main factors on the Russian stock market are moderately positive today in the morning, under our estimates,” Oleg Shagov, senior analyst at investment company Solid, said.

Brent oil prices grew 1.07% to U.S. $68.24 per barrel as of 8.49 a.m. Moscow time. Prior to the domestic opening, U.S. stock futures were rising in the morning, balancing the Tuesday’s lows, and Asian stocks were mainly increasing, and both these factors create a positive background for the Russian trading session start, Shagov said.

On Tuesday in the evening, the European Parliament said that it is ready for even more anti-Russian sanctions if Moscow does not fulfill the Minsk agreements on the truce in Ukraine, the E.U. also proposed military aid to Ukraine, but this is not a definite decision. Some Russian investors might open shorts on this information, Andrei Dirgin, an analyst at Alfa-Forex, said.

On Wednesday, traders will track the purchasing managers’ indices (PMI) of the key E.U. countries, the E.U. retail sales statistics and the U.S. ADP employment figures, Dirgin said.

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