Russian stocks to continue growth backed by oil prices

MOSCOW, Dec 4 (PRIME) -- Russian stocks are expected to continue growth at the opening on Tuesday receiving support from rising oil prices, analysts said.

“The Russian stock market may continue growth of the previous day on Tuesday, but it will likely be less significant amid slower growth of oil prices,” Forex Club analyst Ivan Marchena said.

Olma senior analyst Anton Startsev said, “Growth of the RTS index may be suspended at the start of trading today – after the first (optimistic) reaction of the market to reports about suspension of the “trade war” between the U.S. and China, buyers on the stock market took a pause waiting for details of the upcoming talks, which have not yet been confirmed by the Chinese side.”

The U.S. stock indices increased 1.1–1.5%, stock index futures are falling, European stock floors closed in plus, and Asian stock markets are showing downward dynamics, he said.

Georgy Vashchenko, head of investment company Freedom Finance’s department of operations on the Russian stock market, expects mixed dynamics of the Russian stock market and projects the MOEX Russia Index in the range of 2,440–2,460 points.

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