Russian stocks seen growing early as oil price recovers

MOSCOW, Jan 18 (PRIME) -- The Russian stock market will likely firm at opening on Wednesday thanks to recovery of the oil prices, analysts said.

"We expect the Russian market to resume attempts to rise today. The situation on the fuel market, where the nearest Brent futures reached 1.5-month peaks may become the key reason for purchases," Bogdan Zvarich, senior analyst at financial platform Banki.ru, said.

The Brent futures grew by 1.2% to U.S. $87 per barrel on Wednesday in the morning.

According to Zvarich, the global market situation is positive, as the leading Asian floors added 2.5% with the exception of South Korea, where the trading floor fell by 0.6%. The key U.S. indices' futures consolidateg near yesterday's closing.

BitRiver financial analyst Vladislav Antonov said that the Russian blue chips may get cheaper, which will push the MOEX Russia Index down. The gas prices in Europe sank below U.S. $600 for 1,000 cubic meters thanks to a warm weather and more wind-generated power, which may affect the stocks.

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