Russian stocks may increase as oil prices continue growth

MOSCOW, Aug 10 (PRIME) -- Russian stocks may moderately increase at the opening on Thursday, as oil prices continue growth amid decreased U.S. oil production, but investor activity will be low on the back of negative dynamics on global floors, analysts said.

“We expect the Russian stock market to open at around 1,980 points at the MICEX index, assuming that amid an unfavorable background the risk appetite of investors will be muted,” Oleg Shagov, head of investment company Solid’s research department, said. On Wednesday, the MICEX closed at 1,975.91.

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

Brent oil futures are fluctuating around U.S. $52.7 per barrel after recent growth spurred by new statistics data that pointed to a reduction both of the U.S. oil reserves and production.

The leading U.S. stock index futures are suffering small losses, while Asian stock indicators are mostly demonstrating negative dynamics.

Among other corporate events that can affect the stock market, investors will follow publication of financial results of Gazprom Neft, Evraz, and Mail.Ru.

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