MOSCOW, Apr 10 (PRIME) -- Russian stocks may ease at opening on Monday as geopolitical pressure on the country will outweigh positive impact from the external background, analysts said.
Oleg Shagov, head of investment company Solid’s research department, said that the ultimate impact from the key factors that have significant influence on the Russian market is positive at the beginning of Monday.
“The Brent oil price is fluctuating above a U.S. $55 per barrel mark in the wake of reports that OPEC and non-OPEC members are discussing prolongation of the oil production cut deal. Futures for U.S. stock indices are rising in the morning, the major Asian floors are showing no common dynamics, and premarket trading in Europe points to a slight increase of leading European indices at the beginning of the day,” Shagov said.
The Brent oil price rose 0.361% to U.S. $55.44 per barrel as of 9.08 a.m. Moscow time, according to the ICE exchange.
Bogdan Zvarich, an analyst at investment company Finam, said that geopolitical tensions around the conflict in Syria will continue exerting pressure on Russian stocks.
“The possibility of worsening relations between Russia and foreign partners and talks about the possibility of additional sanctions on Moscow will push Russian stocks down. But later in the day, players may think of our backbone commodity – oil – and that may allow the market to rebound,” Zvarich said.
Ilya Frolov, a senior capital market analyst at Promsvyazbank, also said the current disposition of global markets and a strong resistance at 2,040 of the MICEX index prompt a stronger downward correction with the index sliding below 2,000.
The key event of this week is a meeting of U.S. Secretary of State Rex Tillerson with Russian Foreign Minister Sergei Lavrov, which may offer new data on cooperation between the two countries, Frolov said.
Shagov also said that operating reports of uncut diamond mining giant ALROSA and independent gas producer Novatek may affect local trade during the day.
End
|
|
