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Russian stocks to continue advancing thanks to high crude prices

MOSCOW, Jun 8 (PRIME) -- The Russian stock market can continue upward dynamics on Wednesday thanks to a moderately positive background with oil prices rising to U.S $120 per barrel to win back previous losses, analysts said.

УPurchases of Russian shares may continue at the start of the trading session, and then the market will see further recovery that began in the middle of the day yesterday. We expect the MOEX Russia Index to reach the 2,300Ц2,350 range and consolidate within thanks to high oil prices,Ф senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

The global market is demonstrating positive sentiments with main Asian bourses except for China adding up to 0.9%, core U.S. indices futures correcting down by 0.4%, and the nearest Brent oil futures growing by 0.3% to slightly below $121 per barrel, he added.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the Russian stock market to open with marginal changes of up to 1% and to rise during the day to recoup a serious recent decline.

Georgy Vashchenko, head of investment company Freedom FinanceТs department for trade operations on the Russian stock market also expects the MOEX Russia Index to be trading within the 2,300Ц2,350 range on Wednesday and the U.S. dollar to stay within the range of 60Ц63 rubles per dollar.


08.06.2022 09:53
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