Russian stocks may rise on neutral background, oil at $54/bbl

MOSCOW, Sep 7 (PRIME) -- Russian stocks may slightly grow at the opening on Thursday amid quite a neutral foreign background and oil prices fluctuating around U.S. $54 per barrel, analysts said.

“We expect the Russian stock market to open at around 2,015 points at the MICEX index, assuming that in case of the potential further improvement of the foreign background this stock indicator will try to reach the resistance zone of 2,030 points,” Oleg Shagov, head of the investment company Solid’s research department, said. On Wednesday, the MICEX closed at 2,014.60.

The ultimate influence of key external factors that have a significant impact on the Russian financial market is close to neutral today, the analyst said.

Brent oil futures rose on reports that the Irma hurricane approaching the U.S. was assigned the highest, fifth category of danger and are currently fluctuating around the notch of $54 per barrel in expectation of publication of the U.S. oil production and reserves statistics data.

The leading U.S. stock index futures are suffering small losses, while main Asian stock indicators are mostly demonstrating positive dynamics.

Investors will follow a meeting of the European Central Bank, news from the Eastern Economic Forum, as well as publication of top lender Sberbank’s financial results for January–August and uncut diamond giant ALROSA’s August sales.

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