Russian stocks can make recovery attempt to recoup previous losses

MOSCOW, Jun 28 (PRIME) -- The Russian stock market can try to offset its previous losses on Wednesday despite negative dynamics of the energy market, analysts said.

“We expect purchases of Russian shares to prevail on Wednesday, despite a worse situation on the energy market. As a result, the MOEX Russia Index will continue to recoup its June 23 and Monday losses and can consolidate within the range of 2,780–2,800 at the end of the day,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

Zvarich sees the global markets’ sentiments as controversial. The main Asian stock exchanges are demonstrating mixed dynamics, the key U.S. indices futures are consolidating at the levels of the previous closing, and the Brent oil price is decreasing.

PSB Bank senior analyst Yegor Zhilnikov said that the ruble can attempt to rise to the range of 84.5–85 rubles per U.S. dollar during the day thanks to the exporters’ support.

Alexander Arutyunyan, chief economist of investment company Russ-Invest, said that the external background, except for crude prices, is unlikely to influence the local stock market much, and the market participants will focus on internal factors.

Deputy Finance Minister Alexei Sazanov said in a statement on Wednesday that the government can consider taxes on Russian companies’ extra profits in case of a budget deficit, which is likely to impact future dividends payments, Arutyunyan added.

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