Russian stocks may rise backed by softer global environment

MOSCOW, Aug 21 (PRIME) -- The Russian stock market may edge up at the opening on Friday thanks to a softer external background with major global indices and oil prices seen in the positive territory, analysts said.

“A further decrease of the Russian stock market looks excessive, and many securities bounced back during the evening trading session. The MOEX Russia Index will return to above 3,000 today. Considering the stable Brent oil futures’ dynamics, oil companies’ shares may look stronger,” Director of BCS Broker’s stock market experts department Vasily Karpunin said.

The external background is moderately positive ahead of the Russian trading session with the U.S. and Asian benchmarks seen in the positive territory and the Brent oil price rising to around U.S. $45 per barrel, he added.

Olma senior analyst Anton Startsev said that the RTS index may increase due to a softer foreign environment, but there is still political and economic uncertainty that may trigger further downward correction.

Moscow Exchange and coal producer Raspadskaya are expected to publish IFRS financial reports for April–June, which may also influence the Russian market.

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