Russian stocks to gain on rising oil price, foreign markets

MOSCOW, Sep 6 (PRIME) -- The Russian stock market will edge up at opening on Tuesday thanks to growing oil prices, while higher foreign markets will also contribute to the positive dynamics, analysts said.

“The external background does not give any reason for the RTS to stop consolidation. A certain lull is possible in the first half of the day,” Anton Startsev, Olma’s senior analyst, said.

The background for the Russian trading session’s start is moderately positive because Brent is growing to U.S. $48 per barrel on statements that Saudi Arabia raises oil prices for Asia and the U.S. Futures for the key U.S. indices are growing slightly, Asian indices are rising as well, Oleg Shagov, head of investment company Solid’s research department, said.

The MICEX is expected to open “calmly, at about 2,020,” and investors are expected to raise activities after long holidays in the U.S., Shagov said.

A meeting of an interregional banking council of the Federation Council with participation of Central Bank Chairwoman Elvira Nabiullina and Finance Minister Anton Siluanov will be the most important event for Russian investors on Tuesday, Shagov said.

Releases of the gross domestic product of the euro zone and the U.S. business activity can influence investor mood as well, Startsev said.

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