Russian stocks seen rising on global markets', oil price increase

MOSCOW, Aug 8 (PRIME) -- The Russian stock market will likely open higher on Monday following rising foreign stock and oil markets, analysts said.

"Speaking about the market mood on Monday morning, it can be characterized as moderately positive. The leading Asian floors add up to 0.5%. The futures for the key U.S. indices consolidate slightly above the levels of Friday's closing. The nearest Brent futures added 0.3%, trading at about U.S. $95.2 per barrel," senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

The analyst said that the Russian market is oversold and is to correct upwards. The risks of sales of Russian securities by traders from the friendly states have decreased as the Moscow Exchange gave them admission only to the derivatives market.

But Finam analyst Igor Dodonov said that possible sell-off by investors from the friendly states will pressure the market. The oil prices remain near a six-month low, which will prevent formation of a stable upward trend on the Russian stock market.

The U.S. will publish July inflation figures later on the week, which, according to Zvarich citing a consensus forecast decreased to 8.7% from 9.1% in June. Deceleration would trigger purchases of risky assets, and the release would take investors' attention away from the geopolitical risks.

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