Russian stocks seen rising on global positivity, strong oil prices

MOSCOW, Jul 11 (PRIME) -- The Russian stock market may increase at opening on Tuesday on favorable global background and stabilized oil prices, despite the strengthening ruble, analysts said.

“Today in the morning the purchases in Russian shares may continue. Improved sentiment on external stock exchanges and stabilization of the energy market in the middle of the range of U.S. $75–80 per barrel for Brent oil will contribute to the continued rise of the Russian market,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

The MOEX Russia Index may grow to the area of 2,870–2,900 points during the session, he added.

The Russian market remains strong and tries to ignore the strengthening of the ruble, BitRiver financial analyst Vladislav Antonov said.

“If the interest in shares remains, the growth of the index will accelerate to 2,900. The price pattern indicates that a correction is approaching, but there are no signals for a reversal,” he also said.

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