Russian stocks can open negatively, continue trend later

MOSCOW, Apr 11 (PRIME) -- The Russian stock market can edge down at the opening on Monday and continue the dynamics later in the day, analysts said.

“We expect the Russian stock market to open negatively on Monday. Sales in local stocks can result in a fall of the MOEX Russia Index to around 2,500. Consolidation below 2,600 signals that a negative scenario can realize with a first aim at March’s lows of 2,363,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

In case the index is unable to consolidate at the level, the market can further edge down to 2,000–2,200, he added.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the Russian market to open with a change of up to 2% and sees no prerequisites for certain dynamics.

Manzhos also said that the external environment is negative, but the factor still does not influence the Russian market much.

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