Russian stocks to rise on oil price growth, positive background

MOSCOW, Feb 16 (PRIME) -- Russian stocks are expected to increase at the opening on Tuesday backed by the oil price growth, as well as in anticipation of a meeting between energy ministers of Russia and Saudi Arabia, analysts said.

“We expect the Russian stock market to open with an increase to 1,740–1,745 at MICEX, assuming that this stock indicator will continue regaining losses suffered last week and will most likely exceed the level of 1,750 points,” Oleg Shagov, head of investment company Solid’s research department, said.

The influence of the key factors which significantly affect the behavior of the Russian financial market is moderately positive on Tuesday morning. Brent oil prices are trying to reach the level of U.S. $35 per barrel on reports that representatives of Russia and Saudi Arabia may meet in Qatar on Tuesday to discuss the oil market situation, Shagov said.

The U.S. stock index futures are growing and main Asian stock indicators are showing mostly positive dynamics.

“The outlined growth may continue today at the start of trading,” Anton Startsev, senior analyst at investment company Olma, said.

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