Russian stocks may increase on oil price, foreign markets’ rise

MOSCOW, Oct 23 (PRIME) -- Russian stocks may grow at Friday opening on the back of oil price and foreign stocks’ gains, analysts said.

“I expect the Russian stock market to open with the MICEX at within 1,715 points and an increase of the RTS, while I assume that the domestic stock market will try to amplify the local growth trend which emerged at the end of the last trading session in the near future,” Oleg Shagov, head of research department at investment company Solid, said.

Brent rose 0.60% to U.S. $48.37 per barrel at 8:59 a.m. Moscow time. U.S. stocks futures increase a little and the key Asian indices are rising as well, which provides a solid reason why Russian stocks will grow on Friday, he said.

The Thursday’s statements by Chairman of the European Central Bank Mario Draghi about the E.U. economic stimulation measures still have a potential to boost the prices of Russian stocks on Friday, Olma’s senior analyst Anton Startsev said.

The E.U. business activity data which will be released at 10:00–11:00 a.m. Moscow time, can set the moods for the Russian trading session, Startsev said.

There will be no important foreign statistics releases in the second part of the day, and traders will focus on oil futures, Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said.

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