Russian stocks seen growing on flat oil prices, rising US futures

MOSCOW, Feb 9 (PRIME) -- The Russian stock market will likely increase at the opening of the Wednesday's trading session, because the U.S. futures rise, while the oil prices stopped falling, analysts said.

"Our market has been demonstrating positive dynamics today in the morning. Futures for the U.S. market’s opening grow, the oil prices have stopped falling,” Andrei Vernikov, head of investment company’s Univer Capital department for investment analysis and education, said.

“The situation in Asia is calm. There were reports this week that the Chinese parastatal funds have started to buy shares of the Chinese companies actively."

The oil prices are still “in the bull zone,” but fell 3% after Citigroup said that the U.S. shale oil producers would raise the investment by almost 40% in 2022. The Energy Information Administration (EIA) raised its supply estimate to 12.6 million barrels per day on average in 2023 from 12.41 million barrels. Besides, the Iran–U.S. nuclear program deal is about to be signed, Vernikov said.

However, the oil prices’ support is at U.S. $86.7, he said.

France's President Emmanuel Macron made optimistic statements on the Ukrainian issues after meeting with his Russian counterpart Vladimir Putin triggering some purchases, Vernikov said.

Alor Broker senior analyst Alexei Antonov said that the MOEX Russia Index started growing on Tuesday on the news that Moscow is ready to withdraw troops from Belarus after the drill is completed, and on the statements from Kiev about its commitment to the Minsk agreements.

End %%mk/jst%%