Russian stocks to rise on surging oil prices, Chinese rally

MOSCOW, Apr 13 (PRIME) -- The Russian stock market will increase on Monday in the morning because of a significant oil price growth and a rally in China, analysts said.

“Today, at the start of the trading session an increase is possible on the back of improvement of the oil market situation. Last Friday, Brent futures surged 2.3% and today they are trading at about U.S. $58 per barrel. There are no substantial reasons for the RTS to consolidate above the 1,000 level. From the point of view of technical analysis, a short-term consolidation is the most probable scenario,” Olma senior analyst Anton Startsev said.

Brent rose 0.03% to $57.89 per barrel as of 9.25 a.m., Moscow time on Monday.

The Chinese stock market is seeing a continuous rally, which means that assets of other BRICS countries will also be in favor with investors, Finam analyst Anton Soroko said.

The ruble weakening on April 10 will support exporters’ shares, he said.

The U.S. stocks increased at the closing on April 10, with the indices approaching their peaks of 2015, which will also stimulate demand for Russian assets, Soroko said.

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