Stocks can edge up at opening on oil price, foreign markets rise

MOSCOW, Mar 3 (PRIME) -- The Russian stock market is likely to open higher on Tuesday and will try to win back previous losses backed by an improving global environment, analysts said.

“The RTS index may open higher thanks to recovery on global stock exchanges caused by promises to support the economy by the world’s central banks including the Bank of England, the European Central Bank and the U.S. Federal Reserve,” Olma senior analyst Anton Startsev said.

Senior analyst at Promsvyazbank Bogdan Zvarich said that the U.S. benchmarks futures are consolidating near the levels of closing after an over 4.5% surge on Monday. Asian markets are adding 1.3%, and the Brent oil price is seen above U.S. $52.5 per barrel.

The Russian stock market will also try to recover and the MOEX Russia Index is likely to open gap up into the 2,800–2,850 range, and consolidate over a 2,850 mark if the positive sentiment persists, he added.

The market will also be driven by releases of IFRS financial reports for 2019 by state-controlled telecom operator Rostelecom and national flagship air carrier Aeroflot.

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