Russian stocks may rise at opening on positive background

MOSCOW, Oct 17 (PRIME) -- The Russian stock market may rise at opening on Tuesday amid favorable general background and possible drivers, analysts said.

According to BitRiver financial analyst Vladislav Antonov, the general background for investors is positive, the market can try the 3,275 level.

As of this morning, Brent oil futures are down 0.3%, they trade around U.S. $89.4 per barrel, he said.

Alor Broker analyst Alexei Antonov said that the MOEX Russia Index managed to consolidate above the intermediate resistance of 3,200 points, opening the way to 3,300, but such a movement requires new drivers, which are not yet visible.

“We are afraid that today the growth impulse will weaken and the MOEX Russia Index will remain in the zone of 3,200–3,250 points. In our opinion, the market looks somewhat overheated, and oil is not going higher,” Yevgeny Loktyukhov, head of Promsvyazbank’s research department, said.

Additional news triggers are needed for the index to reach the highs of the year, he added.

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