Russian stocks can open lower on sharp oil price fall

MOSCOW, Mar 31 (PRIME) -- The Russian stock market can edge down at the opening on Thursday due to a sharp fall of crude prices, and will be very sensitive to new geopolitical risks during the day, analysts said.

“We expect the MOEX Russia Index to open its main session with a fall of 0.5–2.5% within the 2,450–2,500 range… The benchmark can also edge down significantly considering the morning decrease of oil prices and cooling of optimism about the peace talks between Russia and Ukraine,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The Brent oil price has lost 4.6%, he added.

Senior analyst at financial supermarket Banki.Ru Bogdan Zvarich expects consolidation of the Russian stock market and attempts to continue recovery to 2,600 in case there are no strengthening of geopolitical risks.

The ruble can also consolidate against the U.S. dollar and the euro during the day, he added.

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