Russian stocks can open downwards amid negative global environment

MOSCOW, Apr 21 (PRIME) -- The Russian stock market can open negatively on Friday in light of discouraging sentiments on the global stock and energy markets, but can try to bounce back later in the day supported by local dividend news, analysts said.

Otkritie Research analyst Andrei Kochetkov said that the external background looks negative prior to the beginning of the Russian trading session. Oil is deflating, and the main Asian market are falling.

“Russian stocks can also open with downward correction after previous growth,” he said.

Alexei Golovinov, chief analyst at PSB Bank, expects the MOEX Russia Index to break through the 2,650 line during the day and sees dividends as the key factor to support the market.

“(Russia’s top bank) Sberbank’s annual general meeting of the shareholders will be the major event. We expect no surprises here, but the actual decision of the shareholders to pay dividends will be perceived positively by the market,” he said.

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