Russian stocks may show rise on moderately positive background

MOSCOW, Sep 4 (PRIME) -- The Russian stock market is likely to open higher on Monday thank to moderately positive foreign background, including strong crude prices, analysts said.

“We expect further purchases of shares at the opening of the Russian stock market in light of positive sentiments on external bourses and high crude prices,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

“As a result, the MOEX Russia Index can hit new local highs. We should mention that the market has managed to consolidate above 3,200, which is a good basis for new advance with a target of 3,400, while the 3,200 mark has turned into a support level,” he added.

Zvarich said that the main Asian stock exchanges are adding up to 1.1% except for India that is losing 0.1%, the core U.S. indices futures are consolidating near the level of their previous closing, and the nearest Brent oil futures are seen near U.S. $88.5 per barrel.

BitRiver financial analyst Vladislav Antonov said that the positive dynamics of oil prices is linked to publication of sound economic results by China and the U.S.

End