Russian stocks to gain on rising oil price, bullish foreign mkts

MOSCOW, Aug 8 (PRIME) -- The Russian stock market will increase on Monday at the trading session opening propped up by rising oil prices coupled with favorable dynamics on world markets, analysts said.

“The external background at the beginning of the trade favors an increase of the RTS. At the same time, technical analysis does not give us any reason to see signals for a sustainable growth,” Olma senior analyst Anton Startsev said.

Oil prices rose to the U.S. $44.5 per barrel notch on the back of a strong U.S. labor market data which supports the fuel market. The U.S. stock market futures are seeing marginal dynamics, the key Asian markets are rising and the European premarket signals opening with upward gaps -- all these factors will contribute to a positive market opening in Russia, Oleg Shagov, head of investment company Solid’s research department, said.

The MICEX is expected to open at about 1,950 and will probably try to consolidate above this level later on Monday, Shagov said.

Oil and foreign markets dynamics will continue to define the Russian market trends later in the day, he said.

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