Russian stocks seen adding slightly as US market futures, oil rise

MOSCOW, Sep 3 (PRIME) -- The Russian stock market will likely edge up at opening on Friday on the back of a rise of the U.S. stock market futures and the oil price, analysts said.

"The external background is positive in the morning. The American futures continued to increase in the morning, adding about 0.2%. Most industrial and precious metals increased, oil costs $73 per barrel," Alor Broker senior analyst Alexei Antonov said.

He said that the MOEX Russia Index has a high chance of setting a historical record of 4,000, although it will unlikely consolidate above the level due to volatility.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, said that the Russian market grew on Thursday thanks to an oil price increase, but the growth eased in the evening in line with a slight deterioration of oil market mood.

Besides, the U.S. published unemployment figures signaling a continuing recovery of the economy, but market was not positive about the news, which will suspend the upward trend in Russia.

Rosneft is in the focus of investor interest after the company announced an agreement with Gazprom to pump gas via the monopoly’s pipelines. The government could order this agreement to be signed and in this case, Rosneft would reach the European gas market with a high premium, Manzhos said.

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