Stocks to open higher on favorable environment, high oil price - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Stocks to open higher on favorable environment, high oil price

MOSCOW, Jan 9 (PRIME) -- Russian stocks are likely to edge up at opening on Tuesday supported by a favorable external background and high oil prices, analysts said.

УThe ultimate influence of the key external factors that have a significant impact on the behavior of the Russian stock market is moderately positive at the beginning of the day, according to our estimates. The March futures for the Brent oil are fluctuating around U.S. $68.2 per barrel growing on expectations of industry statistics that is to show a seven-week contraction of oil stocks in the U.S.,Ф Oleg Shagov, head of investment company SolidТs research department, said.

Shagov also said that futures for the U.S. stock indices changed insignificantly in the morning, while the major Asian floors were in the green zone early in the day. УWe expect the Russian stock market to open in a range of 2,210 of the MOEX Russia Index, and suppose that the stock indicator may continue its mid-term upward trend thanks to a favorable external background,Ф he said.

Investment company OlmaТs leading analyst Anton Startsev said that the external background is still relatively favorable providing for expectations of further growth of the RTS index. Technical analysis points to a noticeable upward movement after the RTS index has broken through its mid-term consolidation range. However, but the RSI indicator shows a slightly overbought state of the index, which may mean the rise will halt soon.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, also said that the background and the growth of oil prices may result in a higher opening of the Russian market.

УWe expect the market to open with an insignificant increase of about 0.2Ц0.3% of the MOEX Russia Index in a 2,210Ц2,215 range. The levels of 2,200 and 2,190 will become the closest support, while 2,220 and 2,240 will act as noticeable resistance levels,Ф Manzhos said.

Manzhos also said that local traders will continue keeping track of oil prices as no important macroeconomic statistics will be released on Tuesday.


09.01.2018 09:44
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 70.7941 +0.1873 20 jul
USD 62.8666 +0.0380 20 jul
Stock Market Indices
1D 1W 1M 1Y
rtsi 1350.69 +0.07 18:50 19 jul
micex 2700.57 -0.07 18:50 19 jul
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 216.00 -1.05 18:49 19 jul
lkoh 5200.50 +0.67 18:49 19 jul
rosn 420.45 +0.83 18:47 19 jul
sber 232.85 -0.82 18:48 19 jul
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 70.6200 +0.1800 14:59 19 jul
USDTD 63.0300 +0.1575 17:44 19 jul