Russian stocks seen growing on oil futures increase

MOSCOW, Dec 26 (PRIME) -- The Russian stock market is to open higher on Monday as the oil futures grow, analysts said.

"The key external markets are closed today, because many are celebrating Christmas. This is why the morning external background can be confidently called neutral. At the same time, a serious growth of the oil futures price on Friday creates conditions for a positive opening of the MOEX Russia Index," Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

Manzhos said the MOEX Russia Index will open 0.1–1.0% higher and fluctuate the range of 2,125–2,145.

He said that the RTS index depends on the ruble fluctuations. BitRiver financial analyst Vladislav Antonov said that the ruble increased at the start of the Monday's session supported by paying taxes.

The Brent futures will not be traded on Monday, while on December 23 they increased to U.S. $84.5 on the back of risks of disruptions of shipments from Russia and frosts in the U.S., Promsvyazbank managing expert Yekaterina Krylova said.

The market is to consolidate later in the day "left to own devices," Manzhos said.

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