Russia stocks may grow as investors’ risk appetite improves

MOSCOW, Apr 25 (PRIME) -- The Russian stock market may edge up at Tuesday’s opening due to a positive external environment, analysts said.

“We expect the MICEX to open at around 1,980 and believe the index may keep growing during the day, if the global background remains positive,” Oleg Shagov, head of investment company Solid’s research department, said.

The major U.S. benchmark futures and the Asian market are gaining. The European premarket trading points to the possibility of a rise, too, following the results of the first round of the presidential election in France with Emmanuel Macron leading.

The Russian market will also be supported by the news that state-run companies will have to pay 50% of their net profit in dividends, Finam analyst Bogdan Zvarich, said.

“We expect an upward trend in early trade, which will push the MICEX to a 2,000 level,” he added.

Andrei Vernikov, deputy CEO for investment research of Zerich Capital Management, said that the MICEX’s three-month downward trend is at 2,000. If “the bulls” break through the level, it may improve the mood on the Russian stock market.

Russian traders may also follow financial results releases by United Wagon Company, which plans an SPO soon, Shagov added.

(56.0794 rubles – U.S. $1)

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