Analysts expect the MICEX index to decline in the first half of the day. At the same time, they admit the growth of the Russian stock market following an increase in oil prices and advise paying attention to shares of oil companies

Timur Nigmatullin, analyst of Finam investment holding:

“In my opinion, today in the first half of the day the MICEX index will decline. The fall in oil prices and the indicator’s noticeable overbought relative to its peers will hamper its growth.”

Alexey Antonov, analyst at Alor Broker:

“It seems that investors no longer react to external indicators and are ready to buy shares of Russian companies on any pullbacks. If in the near future oil prices rise , this will certainly contribute to a further rise in domestic securities . Today, in our opinion, the quotes of Gazprom, LUKOIL and Surgutneftegaz will continue to grow . It is worth paying attention to Rosneft shares .

Alexey Balashov, senior economist at Globex Bank:

“In our opinion, the MICEX index will decrease slightly at the beginning of trading , to 1860–1865 points. The enthusiasm that players felt for oil based on Saudi Arabia's statements suggests that the market expects oil growth. Based on these sentiments, the Russian stock market may grow even stronger. But we would advise you to be careful, since the reason is quite speculative and it is worth paying more attention to data on oil reserves.

Today, the German business climate index and the US consumer confidence index will be published, as well as data on GDP in these countries. "Bashneft, TMK and Bank Vozrozhdenie will report for the third quarter."

Ilya Frolov, analyst at Promsvyazbank:

“At the moment, we still do not see significant potential for further growth of the Russian stock market. However, in our opinion, the observed rise in oil prices may contribute to another wave of revaluation of the domestic market. Let us note that, despite the “overheating”, it does not seem that the market growth has ended, therefore, if the upward trend in oil prices is confirmed, the MICEX index may already overcome 1870 points today , and the RTS index – 900 points. The reporting season of Russian companies may also contribute to the market growth. On Tuesday, in our opinion, an increase in oil prices is likely, which, we believe, will allow continued demand for shares of Gazprom and LUKOIL .”

Geldy Soyunov, senior analyst at Alfa Bank:

“Today, in our opinion, shares of metallurgical companies will decline following commodity contracts. The focus of bidders will be on statistics on US GDP and price changes in the American real estate market.”

Vitaly Manzhos, senior analyst at Obrazovanie JSCIB:

“Probably, the MICEX index today will trade near the opening level. Most likely, the overbought Russian stock market no longer has significant potential to continue yesterday's growth. Moreover, it may begin to decline. In the afternoon, the course of trading may be significantly affected by the release of a number of significant statistical indicators in the United States. The most important of them is the second estimate of US GDP for the third quarter (16:30 Moscow time).”

With an eye on oil: what to expect from the stock market today