Russian stocks may rise at opening on foreign background support

MOSCOW, Nov 11 (PRIME) -- The Russian stock market is likely to open higher and continue rising during the day on Friday thanks to the stronger crude and an improving environment on the global stock markets, analysts said.

“We expect the Russian stock market to open with a moderate rise of 0.2–1% of the MOEX Russia Index, within the range of 2,215–2,235… Yesterday’s growth and this morning’s improving external background create conditions for positive opening of the local market,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

Further intraday dynamics of the MOEX Russia Index will highly depend on the dynamics of heavyweight Sberbank’s shares, he added.

Manzhos also said that the core U.S. indices futures are rising by up to 0.2%, the Brent oil price has added 0.3%, and Asian markets are demonstrating significant growth of 1.8–3%.

Senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said that persisting positive sentiment on the global market and further recovery of oil prices can help the Russian market to overlap the highest levels seen earlier this week.

End