Russian stocks may rise on growing oil, falling ruble

MOSCOW, Sep 5 (PRIME) -- The Russian stock market is likely to grow at opening on Tuesday getting support from the increasing oil prices and the ruble dynamics, analysts said.

“Yesterday once again confirmed the status of Monday as a day of strong growth... Purchases were supported by the rising oil, which went to the area of U.S. $89 per barrel, and the falling ruble. Today these factors will continue to act,” head of Alor Broker’s investment consulting department Alexei Antonov said.

According to Alexei Golovinov, chief analyst at PSB Bank, today the MOEX Russia Index will move in the range of 3,260–3,300 points.

“Supporting factor will continue to be the growth of oil prices, as well as the ruble losing positions. This should support the securities of exporters, but we continue to favor shares of domestic segments, as at the moment we see them as having greater growth potential,” the analyst said.

Today the Finance Ministry publishes data on oil and gas revenues, deviation from the baseline forecast may increase volatility in the currency market, Cifra Broker analyst Maria Glushenkova said.

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