Russian stocks may rise on growing oil price, positive background

MOSCOW, Aug 30 (PRIME) -- Russian stocks may increase at the opening on Tuesday supported by growing oil prices and moderately positive foreign background, analysts said.

“We expect the Russian stock market to open at around 1,990 points at the MICEX index, assuming that this stock indicator may win back losses suffered a day earlier if the foreign background improves further,” Oleg Shagov, head of investment company Solid’s research department, said.

The ultimate influence of key external factors that have an impact on the Russian financial market is moderately positive at the beginning of the day, Shagov said. Brent oil futures are partially winning back yesterday’s losses in expectation of publication of statistical data on the U.S. oil production and reserves, the analyst said.

The U.S. leading stock index futures are not changing much, while main Asian stock indicators are mostly demonstrating slightly positive dynamics.

“Some growth of the RTS index is possible today at the start of trading,” Olma senior analyst Anton Startsev said.

The stock market dynamics will depend on oil prices, the situation on Western floors, and the ruble rate. Among other corporate events, investors will follow publication of financial results of fertilizer producer Acron, multi-industry holding Sistema, real estate developer PIK Group and other companies. Uncut diamond monopoly ALROSA and oil major Lukoil will hold conference calls devoted to financial results.

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