Russian stocks may rise at opening on oil price growth

MOSCOW, Nov 19 (PRIME) -- The Russian stock market may edge up slightly at the opening on Monday and then consolidate thanks to a mixed global background and oil prices trying to recoup previous losses, analysts said.

“We expect the MOEX Russia Index to open with a marginal growth of around 0.3% at 2,380… In the first minutes of trade, the benchmark will price in moderate improvement on the crude market. It is likely to consolidate later in the day awaiting new significant market drivers,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The external environment is mixed with the U.S. stock index futures falling nearly 0.4% and the Brent oil price adding 0.8%, he also said.

In Russia, investors may also be interested in results of investor days which are to be held by Federal Grid Company of Unified Energy Systems (FGC UES) and payment service operator Qiwi.

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