Russian stocks may rise backed by growth of oil prices

MOSCOW, Dec 11 (PRIME) -- Russian stocks may increase at the opening on Friday receiving support from growing oil prices amid a mixed foreign background, analysts said.

“The possibility of continuing the upward movement after exiting the consolidation on the RTS index remains in effect. Yesterday, after the close of trading, it became known that the relevant FDA committee approved the use of the Pfizer/BioNTech vaccine against coronavirus, which increases the likelihood of formal approval by the regulator and the imminent start of vaccination in the U.S.,” Olma senior analyst Anton Startsev said.

The U.S. stock indices closed mixed, the U.S. stock index futures are trading slightly below the level of Thursday’s close, European indices closed mixed, and Asian indices are not showing single dynamics as well.

“For the first time since March, Brent crude oil futures are trading above the psychologically important level of U.S. $50 per barrel, maintaining the role of a factor supporting investor interest in oil and gas sector securities,” the analyst said.

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