Russian stocks may decline on unfavorable external environment

MOSCOW, Apr 25 (PRIME) -- The Russian stock market can edge down on Monday in light of a clearly negative external background with oil prices falling by around 3%, analysts said.

“We expect the main session of the MOEX Russia Index to open with up to 2% changes within the range of 2,180–2,270… The benchmark’s dynamics during the day looks unpredictable,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The external background is clearly negative, there is a lack of liquidity on the Russian stock market, but the market looks largely overbought in the medium term, he added.

Manzhos said that the main U.S. indices futures are falling by around 0.4–0.6%, the Brent oil price has lost more than 3%, and gold has deflated by 0.9%.

Senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said that sales can continue on the Russian stock market on Monday in light of persisting geopolitical risks and the worsened external background.

The MOEX Russia Index can fall to 2,000–2,220, he added.

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