Russian stocks seen edging up on foreign markets' increase

MOSCOW, May 20 (PRIME) -- The Russian stock market may start the Friday trading session with a small upward gap, recovering after Thursday's losses on the back of a positive foreign markets trend, while a further rise will be limited by a marginal oil price dynamics, analysts said.

"A neutral dynamics can remain on our market in the short term. A very strong ruble is pressurizing the shares of exporters. At the same time, the dependence of our market on the Western floors' volatility has become subsided. The Russian market is almost indifferent to the European and U.S. indices' fluctuations," Vasily Karpunin, head of the information and analytics content at BCS World of Investment, said.

The analyst said that the oil prices are seeing a marginal dynamics, remaining in the corridor of U.S. $100–115, which contributes to the Russian stock market dynamics.

Bogdan Zvarich, senior analyst at financial supermarket Banki.ru, said that the Russian market might recover after a Thursday's loss at the start of the session, because the external markets' moods are positive. The key Asian markets are growing by 2.2%, and the U.S. futures are rising up to 0.8%.

Karpunin estimated the MOEX Russia Index resistance zone at about 2,460–2,500.

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