Russian stocks may rise backed by resumed oil price growth

MOSCOW, Feb 13 (PRIME) -- Russian stocks may moderately increase at the opening on Tuesday backed by growing oil prices, analysts said.

“We expect the Russian stock market to open at around 2,220–2,225 points at the MOEX Russia Index, assuming to see in the future fluctuations of this stock indicator around achieved levels under the influence of ongoing changes of the foreign background which has been recently exposed to sudden bursts of turbulence,” Oleg Shagov, head of the investment company Solid’s research department, said. On Monday, the MOEX Russia Index closed at 2,220.12.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, expects that the MOEX Russia Index will add 0.2–0.4% to slightly below 2,230 points at the opening amid improvement of the foreign background.

The foreign background is mixed prior to the opening of trading in Russia, Shagov said.

Brent oil futures are fluctuating around U.S. $63 per barrel after a reduction during last seven trading sessions. The oil market is waiting for publication of a monthly oil report by the International Energy Agency (IEA) and statistics data on the U.S. oil reserves, which under preliminary forecasts can continue growth.

The leading U.S. stock index futures are suffering small losses, while main Asian stock indicators are mostly demonstrating positive dynamics.

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