Russian stocks may rise at opening on growing oil prices

MOSCOW, May 18 (PRIME) -- The Russian stock market may increase at opening on Thursday amid growing oil prices, analysts said.

“At the start of trading today, we expect the Russian market to continue its upward trend. The reason for buying in our shares might be the improvement in the energy market, where the nearest Brent oil futures managed to return to the range of U.S. $75–80 per barrel a day earlier,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

The MOEX Russia Index will again test the April highs and try to consolidate above 2,650 points, the analyst also said.

The growth of the MOEX Russia Index came to a halt amid the strengthening of the ruble during the evening session, while the technical picture remained unchanged, although in many sectors the buyers began to take profits, BitRiver financial analyst Vladislav Antonov said.

PSB Bank senior analyst Yegor Zhilnikov said that the pair dollar-ruble may go through a range of 79.5–80.5 rubles today due to the lack of significant drivers for the formation of directional dynamics.

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