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Russian stocks to rise on positive environment, oil price firming

MOSCOW, Apr 5 (PRIME) -- Russian stocks are likely to grow at the start of trade on Thursday thanks to a positive external background and higher oil prices, analysts said.

УThe RTS index may grow at the beginning of trade today. The external background has improved slightly, as market players hope that the U.S. and China will be able to solve their trade disputes through negotiations,Ф Anton Startsev, a leading analyst at investment company Olma, said.

The Brent oil price rose 0.468% to U.S. $68.34 per barrel as of 9.06 a.m. Moscow time, according to the ICE exchange.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, also said that the background prior to the start of trade in Russia is positive with the U.S. stock index futures rising about 0.6%, and JapanТs Nikkei225 index gaining 1.9%.

УWe expect a positive start of trade in Russia with an increase of about 0.5% of the MOEX Russia Index close to a 2,275 mark. The levels of 2,260 and 2,250 will remain the closest support, while 2,290 and 2,300 will act as resistance,Ф Mahznos said.

Manzhos also said that the release of the U.S. jobless claims data may have an impact on trade in Russia later in the day.

End

05.04.2018 09:30
 
 
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