Russian stocks may ease at opening due to worse background

MOSCOW, Apr 18 (PRIME) -- The Russian stock market is likely to move down at the opening on Thursday amid a discouraging global background, analysts said.

“(The Russian stock market) has no own growth drivers as well as no new money so is likely to edge down at the opening. We expect the MOEX Russia index to open around 0.4–0.5% lower,” Alor Broker analyst Alexei Antonov said.

Financial stocks’ dynamics including top banks Sberbank and VTB Bank may be worse that the market although a lack of bad news, lower sanctions risks and expensive crude will protect the market from a steep fall, he also said.

Olma senior analyst Anton Startsev said that a worse external background may seize the RTS index’s upward movement.

Asian benchmarks and major U.S. indices futures are seen in the red territory.

Investors will also follow publication of operating results for January–March by power company RusHydro, precious metals producer Polymetal International, grocery retailer X5 Retail Group and home appliances and electronic goods retailer M.Video among other corporate events.

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