Russian stocks may increase at opening thanks to improved oil

MOSCOW, Dec 8 (PRIME) -- The Russian stocks may open with an increase on Thursday on the back of some recovery of the oil prices, analysts said.

“At the start of trade the Russian market may make an attempt to go to recovery thanks to some improvement of the oil price situation,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

“However, there might by not enough strength to overcome the resistance of 2,200 points, while in the second half of trade renewed sales may offset the morning rise and push the market down,” he added.

The moods on the global markets are moderately negative. The leading Asian floors are losing within 0.8% despite good GDP data in Japan. The Indian market is edging up 0.1%. The futures on the U.S. main stock indices are falling 0.2%.

BitRiver financial analyst Vladislav Antonov said that oil renewed year minimums on Wednesday and is now stabilized at about U.S. $77.85 per barrel “but looks unstable.”

“Such movements may be a signal of low trust of investors to the developments in the oil segment in general and to the actions of some market participants in particular,” he said, adding that Brent may trade in the range of $75–80 today.

Trading activities are likely to stay low, “which means that investors are saving their strength for future movements,” Antonov also said.

The news flow includes the release of jobless claims in the U.S. and a speech by the European Central Bank (ECB) President Christine Lagarde.

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