Russian stocks may rise as foreign background improves

MOSCOW, Jun 1 (PRIME) -- Russian stocks may increase at the opening on Thursday encouraged by the improvement of the foreign background, analysts said.

“We expect the Russian stock market to open at around 1,905 points at the MICEX index today, assuming that amid improvements of the foreign background this stock indicator will make attempts to win back part of earlier suffered losses,” Oleg Shagov, head of investment company Solid’s research department, said. On Wednesday, the MICEX closed at 1,900.38.

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

Brent oil futures are maintaining at U.S. $51 per barrel after going through a turbulence zone connected with expiration of the July contract.

The leading U.S. stock index futures are slightly growing, while main Asian stock indicators are not showing single dynamics, Shagov said.

Olma senior analyst Anton Startsev said “a rebound at the RTS index is possible today at the start of trading, as some improvement of the foreign background has outlined. However, the technical analysis data leaves a possibility of a quick resumption of downward correction at the RTS index.”

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