Russian stocks may rise on positive Asian markets, stable crude

MOSCOW, Sep 7 (PRIME) -- The Russian stock market may open with a rise on Tuesday, following a positive external background and comfortably stable crude oil prices, analysts said.

According to information seen by PRIME, the Asian markets rose in the morning following statistics by the Chinese government, which turned out very promising for the country’s economy, with both exports and imports rising more than 30%.

Analysts from Mizuho Bank said, as cited by the Wall Street Journal, that such data suggests that China’s central bank may be less tempted to allow further depreciation of the yuan to support export growth.

Andrei Vernikov of UNIVER Capital said he expects the Russian market to open with a rise on the back of positive stock trading in Asia.

Vasily Karpunin of BCS Financial Group said, “Oil prices have been relatively stable so far and are at comfortable levels for our market. A barrel of Brent is trading slightly above U.S. $72. New multi-year highs were reached in gas, aluminum and coal futures. In such conditions, the continuation of the rise of our market looks logical.”

Investors may continue to evaluate the decision by Saudi Arabia’s oil and gas state Saudi Aramco, which, according to Bloomberg, lowered October selling prices for oil to Asian buyers, at twice the rate analysts expected.

According to ANZ analysts, as cited by the Wall Street Journal, Saudi Aramco cut prices for all its crude grades to attract more Asian buyers, but the decision raises questions about whether it wants to increase its market share or fears weakening demand.

Corporate events include the release of Sberbank’s financial results for January–August and a meeting of Acron’s board of directors to consider dividends.

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