Russian stocks can edge up at opening amid lull in geopolitics

MOSCOW, Apr 13 (PRIME) -- The Russian stock market can edge up at the opening on Wednesday as investors tend to react to the positive external environment amid a geopolitical lull, analysts said.

“We expect the MOEX Russia Index to rise 0.3–2.3% into the 2,550–2,600 range at the opening thanks to a favorable external background and a lack of important negative news. The benchmark is able to demonstrate a significant technical bounceback upwards,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The main U.S. indices futures are rising 0.4–0.7%, the Brent crude price has added 0.4%, and Asian markets are demonstrating positive dynamics, he added.

Senior analyst at financial supermarket Banki.Ru Bogdan Zvarich also expects purchases of Russian stocks in the morning.

Local investors begin to react to the global environment due to the lack of major changes in the geopolitical situation so the Russian market can try to recover from previous losses on external optimism.

However, sales can resume if the geopolitical agenda returns to the news, he added.

End