Russian stocks to open higher on favorable environ, oil price rise

MOSCOW, Aug 17 (PRIME) -- The Russian stock market is likely to edge up at the opening on Monday thanks to a positive global background with strengthening crude and metals and rising Asian indices, analysts said.

“The external background looks positive ahead of the start of the local trading session. Most Asian markets rise, crude prices and industrial metals are trading in the positive territory… The Russian stock market is likely to begin the day higher,” Otkritie Broker analyst Andrei Kochetkov said.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the MOEX Russia Index to open around 0.2–0.6% higher within a 3,070–3,080 range.

Olma senior analyst Anton Startsev said that the RTS index may increase at the opening following Asian benchmarks which are trading in the green territory after the People's Bank of China announced expansion of measures to support the liquidity by over U.S. $100 billion.

Investors will also follow publication of financial and operating results for April–June by power company Inter RAO, oil and gas pipe maker TMK, agricultural holding Rusagro, and mining giant Mechel among other corporate events.

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