Russian stocks to rise as oil price grows, geopolitical worries ease

MOSCOW, Mar 6 (PRIME) -- The Russian stock market will increase on Friday in the morning, stimulated by growing oil prices and fading concerns about the truce in Ukraine, analysts said.

“The external background before the Russian trade opening may be qualified as moderately positive,” Vitaly Manzhos, analyst at Nord-Capital said.

Brent rose 0.73% to U.S. $60.92 per barrel as of 9.09 a.m., Moscow time, which will trigger growth in Russian stocks, Denis Khripushin, analyst at 2trade.ru, said.

Investors will be waiting for statements after a meeting of deputy foreign ministers of Russia, Ukraine, Germany and France, who will meet to discuss progress in Ukraine’s truce agreements, Olma’s senior analyst Anton Startsev said.

The geopolitical news flow is neutral because the truce in Ukraine compensates traders’ worries over further U.S. sanctions, Manzhos said.

U.S. non-farm payrolls will be the most important foreign statistics release of the day, Startsev said.

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