Russian stocks seen growing early on oil price increase

MOSCOW, Apr 28 (PRIME) -- The Russian stock market is to edge up at opening on Friday on the back of an oil price increase, analysts said.

"The Russian market began to rise again after four days of consolidation… The technical picture has not changed, the medium-term trend remains in force," BitRiver’s financial analyst Vladislav Antonov said, adding that the banking crisis risks faded, as the shares of U.S. First Republic Bank increased.

A statement by Deputy Prime Minister Alexander Novak that the oil market was stable would support investors in Russia, Antonov said.

According to Antonov, a meeting of the central bank board of directors that is expected to keep the 7.5% key rate, will be in focus on Friday.

Senior analyst at Promsvyazbank Dmitry Monastyrshin confirmed the estimate.

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