Russian stocks can grow slightly on US–China trade spat easing

MOSCOW, Feb 25 (PRIME) -- The Russian stock market will likely edge up at opening on Monday, following rising foreign markets, which see the signs of the U.S.–China trade conflict easing, analysts said.

“The external background before the opening of trade can be called positive: resumed activity on the global stock markets after a statement by U.S. President Donald Trump about the postponement of automatic introduction of new duties on Chinese imports persists (at the same time, China’s Xinhua reports that the final stage of trade negotiations can be difficult),” Olma senior analyst Anton Startsev said.

The U.S. stock market indices rose 0.6–0.9%, the futures grew slightly. The European markets increased a little at closing on February 22, and the Asian markets surge, according to Startsev.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the MOEX Russia Index to open with a marginal change of 0.2–0.3% at around 2,480–2,495. The levels of 2,470 and 2,460 will be support and 2,500 and 2,510 resistance.

Startsev said that the RTS is near 1,200 and its medium-term trend will depend on whether the index consolidates above or below the level.

Alexei Korenev, investment company Finam’s analyst, said that Monday’s statistic releases will be scarce, as well as corporate reports.

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