Russian stocks may rise as foreign background improves

MOSCOW, Jun 6 (PRIME) -- The Russian stock market may edge up at opening and rise during the day on Wednesday thanks to an improving global environment, analysts said.

“We expect the MOEX Russia Index to open moderately higher at around 2,325, up 0.3%... The benchmark is likely to continue growing slowly into the 2,330–2,340 range due to an improving foreign background,” Vitaly Manzhos, senior risk manager at investment company Nord Capital, said.

The local market will be mainly influenced by dynamics of the Brent oil price which may alter after the U.S. Department of Energy releases an oil inventories report.

The RTS index can rise following crude prices although there are no reasons for a significant advance, Olma senior analyst Anton Startsev said.

Market participants are waiting for an annual G7 leaders summit later this week where acute problems including international trade issues will be discussed, he added.

Local investors will also track decisions of general meeting of shareholders of power producer Territorial Generating Company-1 (TGC-1), grocery retailer Dixy Group and metals and mining group Mechel.

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