Russian stocks to rise on positive background, stable oil price

MOSCOW, Dec 17 (PRIME) -- The Russian stocks are likely to rise on Tuesday morning supported by a positive mood on the global markets and by stable and relatively high oil prices, analysts said.

“Today, the RTS Index may continue its upward movement. Investors on the global markets will likely continue their pre-New Year rally, taking into account the volatility indicators and global stock bourses, as they base their optimism on the prospects of the U.S. and China signing their trade deal,” investment company Olma’s senior analyst Anton Startsev said.

Mikhail Poddubsky, senior analyst at Promsvyazbank’s department for research and strategic marketing, said that the Russian market would be supported by a moderately positive mood of the global bourses and the fact that oil prices remain at comfortable levels.

“This makes us expect (the MOEX Russia Index) to stay in the range of 3,000–3,030,” he said.

Georgy Vashchenko, head of the department for operations on the Russian stock market at investment company Freedom Finance, said that the national market is trying to set new records, and that the external background has no drivers that could slow down the December rally. Position closing support the market.

“We expect growth to continue. There are no important corporate news in the focus of market players. The market may hit a new record of the MOEX Russia Index, the guidance is in the range of 3,000–3,030. The oil and gas and the financial sector shares will lead the market, as well as the shares of non-ferrous metals producers,” Vashchenko said.

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