Russian stocks may rise on oil price rebound, Moody’s upgrade

MOSCOW, Dec 4 (PRIME) -- Russian stocks may increase at the opening on Friday supported by an oil price rebound and Moody’s decision to improve outlook for Russian state bonds, analysts said.

“We expect the Russian stock market to open with an increase at the RTS index and at around 1,790 points at the MICEX index, which can again try to grow above 1,800 points amid a favorable external background,” Oleg Shagov, head of the research department at investment company Solid, said.

Brent oil futures returned to the level of U.S. $44 per barrel ahead of an OPEC meeting to be held later in the day and amid reports that Saudi Arabia may support a reduction of an oil production quota at the meeting, analysts said.

International rating agency Moody’s decision to change an outlook for the Russian government bonds to stable from negative may also add optimism to investors, Shagov said.

The U.S. stock index futures are growing, while main Asian stock indicators are mostly decreasing.

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