Russian stocks may rise backed by positive foreign background

MOSCOW, Oct 20 (PRIME) -- Russian stocks may increase at the opening on Friday backed by the improvement of the foreign background and growing oil prices, analysts said.

“We expect the Russian stock market to open around 2,075 points at the MICEX index, assuming that in conditions of the improved foreign background “stock bulls” may make attempts of counterattack to win back part of earlier suffered losses,” Oleg Shagov, head of the investment company Solid’s research department, said. On Thursday, the MICEX closed at 2,072.73.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, expects the MICEX to grow around 0.2–0.3% to 2,075–2,080 points at the opening.

The ultimate influence of key external factors that have a significant impact on the Russian financial market is moderately positive today, Shagov said. Brent oil futures are fluctuating around U.S. $57.4 per barrel in expectation of results of today’s meeting of the committee for monitoring of fulfillment of the oil cut production deal by OPEC and non-OPEC states and publication of drilling activity data in the U.S.

The leading U.S. stock index futures are growing, and main Asian stock indicators are not showing single dynamics.

Investors will follow publication of operating results by hydropower giant RusHydro and financial results of retailer Magnit.

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