Russian stocks seen mixed on oil price rise, ruble recovery

MOSCOW, Sep 13 (PRIME) -- The Russian stock market will likely open with a mixed dynamics on Wednesday, because an increase of oil prices would support the oil and gas sector, while a strengthening of the ruble would have a negative effect on the exporters, analysts said.

"We expect purchases to keep on predominating in Russian shares today at the start of the trade. An improvement of the situation on the fuel market may be the reason, as it will support the oil and gas sector securities. At the same time, a recovery of the ruble will continue to pressurize the securities of exporters," Bodgan Zvarich, senior analyst at financial marketplace Banki.ru, said.

The nearest Brent futures grew 0.3% in the morning to U.S. $92.3 per barrel.

Cifra Broker analysts said that the external background for the start of the session in Russia was moderately negative, as Japan's Nikkei 225 rose by about 0.1%, and China's Shanghai Composite lost 0.8%.

Market participants are waiting for the release of a monthly oil market report by the International Energy Agency (IEA) later in the day, the analysts said.

According to Zvarich, the release of the U.S. inflation data was also important for investors, as it could change the expectations on decisions of the U.S. Federal Reserve System (Fed) on the key rate at the next meeting scheduled for the next week.  

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