Russian stocks to rise on positive environment

MOSCOW, Jun 22 (PRIME) -- Russian stocks are likely to open higher on Monday supported by positive external background and stable oil prices, analysts said.

“The influence of main external factors on the Russian stock market at the beginning of the day is moderately positive according to our estimations…We expect to see a positive opening of the Russian stock market today,” Oleg Shagov, head of analytical department at investment company Solid, said.

U.S. stock index futures are rising, Asian floors are showing mostly positive dynamics and the Brent oil price is rising 0.08% to U.S. $63.07 per barrel as of 8.49 a.m. Moscow time.

“We expect the market to edge up at opening close to the 1,665 point mark of the MICEX index,” Vitaly Manzhos, senior analyst at Bank Obrazovanie, said.

Weakening of tensions around Greece may also provide a slight positive impact for the market, Olma’s senior analyst Anton Startsev said. “During the weekend the Greek prime minister presented a new plan of budget cuts, which may be discussed at E.U. leaders’ meeting today,” he said.

Investors will closely track meetings of Eurogroup and E.U. leaders during the day, which will discuss the Greece’s situation. A positive outcome of the meetings will support all stock markets and promote a short-term increase of the euro’s exchange rate, Vasily Oleinink, analyst at ITInvest, said.

Investors will also watch for the release of the U.S. secondary housing sales data.

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