Russian stocks can consolidate still pressured by geopolitics

MOSCOW, Apr 1 (PRIME) -- The Russian stock market can open with significant changes and consolidate later in the day on Friday amid persisting geopolitical uncertainty, analysts said.

“We expect the main session of the MOEX Russia Index to open with changes of up to 2% within the 2,650–2,750 range… The benchmark is likely to consolidate later in the day,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

Senior analyst at financial supermarket Banki.Ru Bogdan Zvarich expects Russian stocks to continue recovery to the local highest of 2,760.

The investors are still likely to perceive geopolitical risks as the main factor and will ignore the dynamics of the global market, he added.

Zvarich also said that the ruble can continue strengthening to test the 82 ruble against the U.S. dollar level.

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