Russian stocks may rise backed by oil price growth, global floors

MOSCOW, Dec 1 (PRIME) -- The Russian stock market can edge up at the opening on Wednesday thanks to an optimistic environment on global stock exchanges and strengthening crude prices, analysts said.

“We expect the MOEX Russia Index to open around 0.3–1% higher within the 3,905–3,930 range… and the benchmark can grow into the 3,940–3,950 range later in the day,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

Director of BCS Broker’s stock market experts department Vasily Karpunin said that the external background looks positive with Asian markets trading in the green territory, the Brent oil price adding 2.4%, and rising U.S. indices futures.

Alor Broker analyst Alexei Antonov said that oil prices can be supported by decisions of the OPEC+ monitoring committee, meeting on Wednesday.

Metals producer Norilsk Nickel can be among the growth leaders in light of a 2% rise of prices for industrial metals, he added.

Investors will also follow publication of oil and gas pipe maker TMK’s IFRS financial results for July–September among other corporate events.

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