Russian stocks may rise on external positivity, strong oil prices

MOSCOW, Jul 13 (PRIME) -- The Russian stock market is likely to rise at opening on Thursday on external positivity and growing oil prices, analysts said.

“Positive sentiment on the world markets and further improvement of the situation on the energy market may contribute to the predominance of purchases in our shares at the trading on Thursday. As a result, the MOEX Russia Index will be able to continue its upward dynamics and rise above 2,900 points,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

After overcoming the 2,800 points mark, the index may try the 3,000 points area, and the external positivity continues to push the market towards this mark, the analyst added.

“Profit taking on long positions may start at any moment. A breakdown of support at 2,825 points will be a signal for correction,” BitRiver financial analyst Vladislav Antonov said.

The ruble remains under pressure and will receive support from the tax period after July 21, he also said. The ruble is under a downtrend, and there are no technical signals for a change, he added.

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