Russian stocks can rise thanks to weakening geopolitical risks

MOSCOW, Mar 30 (PRIME) -- The Russian stock market can edge up on Wednesday thanks to encouraging results of Russia–Ukraine peace talks, analysts said.

“Purchases of Russian shares may intensify. A positive external background and possibly lower geopolitical risks will improve the interest in local shares. The MOEX Russia Index can try to return to the 2,500–2,600 range, and the upper bracket of the range can be tested if there are good news,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

The ruble can continue strengthening to below 85 rubles against the U.S. dollar, he added.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the MOEX Russia Index to open with marginal changes of up to 1% within the 2,380–2435 range, and to grow significantly later in the day thanks to positive results in Russia–Ukraine peace talks.

But some stocks can still demonstrate deep negative dynamics, he added.

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