Russian stocks to open higher amid rising crude, foreign floors

MOSCOW, Dec 24 (PRIME) -- The Russian stock market may open higher on Thursday amid an improving global market sentiment, and they can consolidate later in the day ahead of Catholic Christmas, analysts said.

“(The Russian stock market) is likely to edge up at the opening thanks to a favorable external background with the main U.S. futures rising 0.2%, the Brent oil prices seen at U.S. $51.5 per barrel, and industrial and precious metals trading higher,” Alor Broker analyst Alexei Antonov said.

Olma senior analyst Anton Startsev said that the RTS index may rise at the beginning of the trading session thanks to an improving sentiment on the global energy market.

Antonov also said that business activity is traditionally low ahead of Catholic Christmas. There will be shorter trading sessions at most Western stock exchanges on Thursday, and the bourses will be closed on Friday.

The Russian market will have a lack of cues in the evening so the local blue chips will likely consolidate, he added.

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