Russian stocks seen growing on foreign markets, oil prices rise

MOSCOW, Jun 1 (PRIME) -- The Russian stock market may open higher on Wednesday as the majority of foreign markets and in the prices for oil rise, analysts said.

"Speaking about the Wednesday morning international market mood, it can be characterized as moderately positive. The leading trading floors in Asia demonstrate mixed dynamics, the U.S. index futures have erased most of yesterday's losses, gaining up to 0.6%. The nearest Brent futures grew 0.4%, trading at about U.S. $116 per barrel," Bogdan Zvarich, senior analyst at financial supermarket Banki.ru, said.

Zvarich said that after losing 1.9% on Tuesday, the MOEX Russia Index is very likely to recover part of the losses, while if the positive mood persist, index can exceed the 2,400 level.

Alexei Antonov, head of Alor Broker’s investment consulting department, said that the Russian market will allow short trade on Wednesday for the first time after a long pause, which will likely raise volatility, but a sale-off is extremely unlikely.

Antonov did not rule out that the terms of the embargo will be eased, or illegal oil purchases will take place. He said that Rosneft has not priced in the final dividends for 2021.

Gazprom is to look better than the rest of the market before the dividend cutoff, the analyst said.

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