Russian stocks may rise on high oil ahead of OPEC, non-OPEC talks

MOSCOW, Dec 9 (PRIME) -- Russian stocks may grow at the opening on Friday as oil prices are rising ahead of OPEC and non-OPEC states meeting on oil production reduction, analysts said.

“We expect the Russian stock market to open positively at around 2,205 points at the MICEX index, assuming that this stock indicator will renew its all-time high amid improving foreign background,” 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 grew above U.S. $54 per barrel in expectation of results of a meeting between OPEC states with non-OPEC oil producing countries scheduled for Saturday.

The U.S. stock index futures are slightly growing, and main Asian stock indicators are mostly demonstrating positive dynamics.  

Investors will follow publication of food retailer Magnit’s operating results for November, among other corporate events.

Olma senior analyst Anton Startsev said that “from the technical analysis positions a possibility of further growth of the RTS index remains in force.”

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