Russian stocks may increase supported by oil prices recovery

MOSCOW, Nov 22 (PRIME) -- The Russian stock market may increase at Tuesday’s opening amid the improved global background and oil prices, analysts said.

“Oil is rising by a quarter of a percent in the morning, the U.S. dollar index is showing signs of correction after yesterday’s 0.8% rise. This means that there are prerequisites for a further technical rebound of oil and the Russian stock market,” Alor Broker senior analyst Alexei Antonov said.

The blue chips are unlikely to have a pronounced leader, he also said. “The positions will be recovering across the board evenly as long as oil quotations are rising further,” he added.

Senior analyst at financial supermarket Banki.Ru Bogdan Zvarich also said that the Russian stock market may recover today thanks to “the improved situation with the oil prices.”

The moods on the global floors are moderately positive before the start of trading in Russia, with the leading Asian floors rising 0.6%, excluding the South Korean market with a 0.6% fall, and the futures on the main U.S. stock indices are consolidating above the levels of yesterday’s closing.

Investors will track the release of TGS Group’s report, as well as speeches by several representatives of the U.S. Federal Reserve System (Fed).

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