Russian stocks to rise on high oil, better foreign background

MOSCOW, Feb 1 (PRIME) -- Russian stocks are projected to increase at the opening on Thursday receiving support from growing oil prices amid concerns about a supply deficit and an improved foreign background, analysts said.

“We expect the Russian stock market to open at around 2,290–2,295 points at the MOEX Russia Index, assuming to see another attempt of this stock indicator to grow above the psychological level of 2,300 points,” Oleg Shagov, head of the investment company Solid’s research department, said. On Wednesday, the MOEX Russia Index closed at 2,289.99.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, expects that the MOEX Russia Index will add around 0.3% to 2,295 points at the opening amid improvement of the foreign background.

Brent oil futures grew and are fluctuating around U.S. $69.1 per barrel having received support from statements of the International Energy Agency (IEA) that a small deficit of oil supplies is possible on the oil market after the first quarter, Shagov said.

The leading U.S. stock index futures are rising, while main Asian stock indicators are not showing single dynamics.

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