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Moscow Exchange to restart trade at 10.00 am Ц bourse

MOSCOW, Feb 24 (PRIME) -- The Moscow Exchange will restart trading at 10.00 a.m. Moscow time on Thursday, the bourse said in a statement.

Stocks are likely to plummet further after the restart of trade on Thursday as the military action in Ukraine escalates, analysts said.

†УAfter the restart of trade in Russia, the MOEX Russia Index may open with a dive of about 15Ц19% in the range of 2,500Ц2,600. The levels of 2,450 and 2,400 will act as the closest support, while 2,650 and 2,700 will become the resistance,Ф Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

In the coming days, the markets will be highly volatile and the impact of the external markets and foreign statistics will be insignificant, Manzhos said.

УUnfortunately, we think that the fall of the Russian shares is not over. We will have to pay with sanctions for recognition of the Donetsk and Luhansk peopleТs republics, but they would have been imposed under other pretexts,Ф Alor Broker senior analyst Alexei Antonov said.

Making any mid-term purchases at the moment is scary, and it could be already late to sell. Nevertheless, the commodity companies unconnected to the Russian state could outperform the market. The market waits for the sanctions and actions of Ukraine, he said.

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24.02.2022 09:59
 
 
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