Russian stocks may rise amid favorable sentiments on oil market

MOSCOW, Sep 6 (PRIME) -- The Russian stock market is expected to open higher on Wednesday supported by high energy prices and a neutral environment on external stock exchanges, analysts said.

“We expect active purchases in local shares at the beginning of the trading session today despite a controversial situation on external markets. High crude prices will support the Russian market,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

“As a result, the MOEX Russia Index will try to continue its growth wave with the nearest target at 3,400. Exporters, including energy producers, can become the best performers thanks to the weakening ruble and high energy prices,” he added.

Zvarich also said that the sentiments on the global markets are seen neutral with the main Asian benchmarks trading mixes, the core U.S. indices futures consolidating at the levels of their previous closing after a fall on Tuesday, and the Brent oil price seen flat at around U.S. $90 per barrel.

BitRiver financial analyst Vladislav Antonov said that the ruble is likely to continue its downward dynamics without additional measures of the central bank and the Finance Ministry because of a strong misbalance between demand and supply of foreign currencies and expansion of the Finance Ministry’s currency purchases.

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