Russian stocks may rise on growing oil prices, US futures

MOSCOW, Jan 9 (PRIME) -- The Russian stock market is expected to open with an upward gap on Monday on the back of an oil price increase to about U.S. $57 per barrel and a rise of U.S. stock market futures, analysts said.

“The ultimate influence of the key external factors which significantly affect the behavior of the Russian financial market has been moderately positive today in the start of the day, in our estimates,” Oleg Shagov, director of the analytical department of Solid, said.

Asian markets are showing mixed dynamics and the European premarket is signaling an upcoming growth during the trading session start, which will also contribute to growth in Russia, Shagov said.

The MICEX index will be trying to get back the losses of the end of the last week as investors are returning from holidays, Shagov said.

But analysts of Olma said that the Russian market is expected to continue the consolidation on Monday because traders’ expectations of the U.S. Federal Reserve System’s policies to become more severe are limiting demand.

Fertilizer producer Acron plans to publish a report under International Financial Reporting Standards (IFRS) for January–September, which, according to Shagov, is supposed to become the main corporate event of the day.

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