MOSCOW, Apr 12 (PRIME) -- The Russian stock market will likely decline on Monday morning because of a remaining threat of Western sanctions over escalation of the Ukrainian conflict, analysts said.
"We should not take seriously the calls of European legislators to disconnect Russia from SWIFT for building up troops near Ukraine and for provoking Ukraine just yet but it was a bad sign," Alor Broker chief analyst Alexei Antonov said.
"But there is no reason for purchases either. The U.S. futures fell by 0.33% before our opening, which is logical because the S&P 500 has hit the upper bracket of the upward trend corridor and there is no reasons to break it."
According to Antonov, a fall in industrial and precious metals prices will push down the Russian natural resource companies, but the decline will be cushioned by the ruble depreciation.
Georgy Vashchenko, head of investment company Freedom Finance’s department of trade operations on the Russian stock market, put the MOEX Russia Index guidance at 3,400–3,450.
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