Russian stocks may rise at opening on growing oil price

MOSCOW, Feb 7 (PRIME) -- The Russian stock market may increase at opening on Tuesday over growing oil prices and favourable global background, analysts said.

“Today, at the beginning of trading, the predominance of purchases in the Russian shares may persist, as a result of which the MOEX Russian Index will try to continue the upward trend,” Senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

The company's shares will be supported by the situation on the energy market, where the nearest futures on Brent oil continues corrective growth from the local minimums, the analyst added.

The inertia of yesterday's gains and the morning improvement in the external background create conditions for the stock market to open with a significant increase, and it is very likely to consolidate in the plane of positive change later, Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

He also said that the MOEX Russia Index is expected to go up 0.3–0.8% in the range of 2,280–2,290 in the beginning of the trading session.

Only important foreign policy or corporate news can have a noticeable influence on the trading in Russia in the second half of the day, the analyst added.

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