Russian stocks may rise slightly amid neutral background

MOSCOW, Sep 13 (PRIME) -- Russian stocks may slightly increase at the opening on Tuesday amid a neutral foreign background and oil prices fluctuating around U.S. $48 per barrel, analysts said.

“We expect the Russian stock market to open at around 2,020–2,025 points at the MICEX index, assuming that further intraday dynamics of this stock indicator will depend on such factors as behavior of oil prices and Western stock indicators, as well as the ruble rate change and ongoing events,” Oleg Shagov, head of investment company Solid’s research department, said.

The ultimate influence of key external factors that have an impact on the Russian financial market is close to neutral at the beginning of the day, Shagov said. Brent oil futures are fluctuating around $48 per barrel remaining under pressure of an anticipated increase of the U.S. oil reserves on the back of oil output recovery in the Gulf of Mexico, the analyst said.

The U.S. leading stock index futures are decreasing after yesterday’s heavy growth and Asian stock indicators are not showing single dynamics.

“From positions of the technical analysis, the RTS index tested the level of 970 points, but closed higher, which implies a possibility of suspension of the downward correction or a rebound,” Olma senior analyst Anton Startsev said. At the same time, some period of excessive volatility of stock indices can’t be ruled out, he said.

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