Russian stocks to grow on rally at foreign markets

MOSCOW, Sep 30 (PRIME) -- The Russian stock market is likely to continue growing at the opening of Wednesday’s trading session amid oil price consolidation and foreign stocks gains, analysts said.

“The influence of the key factors which make a significant impact on the Russian financial market’s behavior is moderately positive today at the start of the day, my estimates show,” Oleg Shagov, a head of investment company Solid’s analytical department, said.

“The stabilization of the situation on global stock markets can favor a certain increase at the start of trade,” Anton Startsev, a senior analyst at investment company Olma, said.

U.S. stock market futures are growing, Asian indices are also rising.

Brent keeps consolidating at about U.S. $48 per barrel, as investors wait for U.S. oil reserves figures release later on Wednesday, Shagov said.

Also, later in the day, Russian investors will pay attention to the U.S. employment figures, Startsev said.

A statement by U.S. Secretary of State John Kerry that Syrian President Bashar al-Assad must leave his post peacefully will also support Russian investors because these words are an evidence that negotiations over Syria between Russia and the U.S. have brought about some results, Finam analyst Anton Soroko said.

Oil and gas shares will be in demand as increasing oil price reduces chances for changes in the oil taxation principles, Promsvyazbank analyst Ilya Frolov said.

Sberbank and Norilsk Nickel are also going to rise, he said.

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