Russian stocks to grow amid rising oil, mixed background

MOSCOW, Jun 1 (PRIME) -- The Russian stock market will likely rise at the opening on Tuesday thanks to the support of strong oil and gas prices despite a mixed foreign background, analysts said.

“The MOEX Russia and the RTS indices… look ready for moving into the areas of 3,800 and 1,650, respectively. The MOEX Russia’s guidance for (Tuesday) trading session is 3,660–3,760,” Veles Broker analyst Yelena Kozhukhova said.

Otkritie Broker analyst Andrei Kochetkov said that the external background ahead of the opening of the Russian stock market is controversial with crude and industrial metals prices inflating and Asian stock exchanges seen lower pressured by the financial and IT sectors.

Russian indices may edge up at the opening thank to the support of strong oil and gas prices, he added.

Local investors will track news from a meeting of the OPEC+ joint ministerial monitoring committee, an annual general meeting of the shareholders of oil major Rosneft and a conference for investors of national flagship air carrier Aeroflot.

End