Russian stocks may rise on positive background, oil price growth

MOSCOW, Dec 1 (PRIME) -- Russian stocks may increase at the opening on Tuesday supported by a positive background and an oil price growth, analysts said.

“We expect the Russian stock market to open at around 1,780 points at the MICEX index, assuming that the Russian stock market will try to win back part of the incurred losses,” Oleg Shagov, head of the research department at investment company Solid, said. On Monday, the MICEX closed at 1,771.05.

The influence of the key factors that significantly affect the Russian financial market is moderately positive at the start of the day, the analyst said. Brent oil futures are growing returning to the level of U.S. $45 per barrel as market participants expect statements by OPEC leaders ahead of a Friday meeting, Shagov said.

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

“Some growth is possible at the start of trading today. Brent oil futures are approaching the level of $45 per barrel, which gives a possibility to speak about softening of the foreign background,” investment company Olma’s senior analyst Anton Startsev said. “From positions of the technical analysis, the RTS index has approached the support zone with the upper border of 840 points,” he said.

End