Russian stocks seen rising following foreign markets

MOSCOW, Jul 13 (PRIME) -- The Russian stock market will likely increase on Monday at the start of the trading session on the back of a positive trend on foreign markets and expectations of a forthcoming meeting of the OPEC plus members, analysts said. 

"A rise of the RTS index is possible today at the start of trade, it will follow the global indices, -- the mood on the foreign stock markets remains optimistic on expectations of a flow of corporate reports (J.P. Morgan Chase, Citigroup, Wells Fargo, Goldman Sachs, Alcoa, Johnson&Johnson, Morgan Stanley will publish the financial reports for the second quarter)," Olma senior analyst Anton Startsev said.

Finam analyst Alexei Korenev said that market participants are waiting for an OPEC plus meeting scheduled for Wednesday and a conference call of the monitoring committee of the cartel a day before. The agreement participants will discuss whether to prolong the current oil output reduction terms for August or to ease the limit to 7.7 million barrels per day.

The Brent oil blend grew to U.S. $43.4 per barrel on July 10 but later corrected downwards, the analyst said. On Monday in the morning, oil prices fell by 0.60% to $42.98 per barrel.

Korenev said that the growth of Asian markets on Monday morning will likely translate into an increase in Europe because of a small number of statistics reports.

Alor Broker analyst Alexei Antonov said that Norilsk Nickel will likely resume to decrease after a jet kerosene spill into a river by its affiliate.

Gazprom will likely show strong dynamics as its dividend cutoff is on Wednesday, he said.

Polyus and Polymetal will likely rise on the back of a gold price growth, Antonov said.

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