Russian stocks may rise backed by oil price growth

MOSCOW, Jan 16 (PRIME) -- Russian stocks may slightly grow at the opening on Tuesday supported by oil prices fluctuating around U.S. $70 per barrel, analysts said.

“We expect the Russian stock market to open around 2,260–2,265 points at the MOEX Russia Index, assuming to see fluctuations of this stock indicator around achieved levels under the influence of permanent changes of the foreign background and incoming news,” Oleg Shagov, head of the investment company Solid’s research department, said. On Monday, the MOEX Russia Index closed at 2,261.53.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, also expects a neutral start of trading at around 2,260–2,265 points at the MOEX Russia Index.

The ultimate influence of key external factors that have a significant impact on the Russian financial market is close to neutral today, Shagov said.

Brent oil futures are fluctuating around $70 per barrel in expectation of publication of statistics data. Market participants are also waiting for publication of OPEC’s monthly report on Thursday and upcoming meeting of the monitoring committee in Oman on Sunday–January 22.

The leading U.S. stock index futures are slightly growing, and main Asian stock indicators are mostly demonstrating moderate positive dynamics.

Among other events, investors will follow news from the Gaidar Forum that opens in Moscow on Tuesday.

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