Russian stocks may rise on mixed markets, oil rebound

MOSCOW, Dec 2 (PRIME) -- The Russian stock market may open with a slight gain on Thursday due to positive oil dynamics and support from external markets’ optimism, analysts said.

Vasily Karpunin of BCS Investment Group said that the background is mixed this morning, as U.S. indices are down and Asian markets show no unified dynamics. Brent crude is up 1.2% and near the U.S. $69.7 mark, which may support investors’ sentiment today.

Vitaly Manzhos of Algo Capital expects the MOEX Index to open with a moderate gain of 0.1–0.7%, in the range of 3,965–3,985 points, and later follow data on unemployment in the U.S. and crude oil prices dynamics. The overall backdrop is moderately positive today, he said.

“The external background has sharply improved. … This picture suggests that the Russian stocks are going to open the day with a slight uptrend in the blue chips,” Alexei Antonov of Alor Broker said.

According to Antonov, the market will follow OPEC’s decisions on oil production later in the day.

Market sentiment has improved due to fears of the new COVID strain fading out, Georgy Vashenko of Freedom Finance said.

Russian investors are looking forward to today’s Transneft conference call, Vashchenko said.

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