Russian stocks may slightly grow amid weakly positive background

MOSCOW, Dec 9 (PRIME) -- Russian stocks may slightly grow at the opening on Monday amid a weakly positive foreign background, analysts said.

“The external background before the start of trading in Russia is slightly positive. Oil is held at U.S. $64 per barrel, Asian markets are mostly in plus. Positive expectations remain regarding the outcome of the U.S.–China talks. Correspondingly, we expect the Russian market (to make) attempts to further growth and the ruble to strengthen,” Otkritie Broker analyst Andrei Kochetkov said,

Alor Broker analyst Alexei Antonov said the reaction of oil quotations to the reduction in production by OPEC+ states and the voluntary reduction of limits by Saudi Arabia was very weak. This is partly due to the fact that the world’s largest oil powers already produced less oil than quotas, and also that gas condensate was removed from the limits of non-OPEC countries,

“Taking into account growth of Russian futures on Friday (December 6) by an average of 0.4% at evening trading we expect the trading to open with growth of around 0.2%,” he said.

The further dynamics of the stock market will depend on the foreign background, he said.

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