Russian stocks may grow on foreign markets' increase

MOSCOW, Apr 10 (PRIME) -- The Russian stock market will likely open higher on Monday following a positive trend on the foreign markets, analysts said.

"We expect consolidation of the Russian market below the peaks of many months set last week to continue today at the start of trade. At the same time, the MOEX Russia Index may try to decline below 2,500 during the session because of profit taking on long positions in the Russian shares by investors," senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

According to the analyst, the global market mood was moderately positive, as the key Asian floors added up to 1% with only the Chinese market losing 0.3%. The main U.S. indices' futures consolidated near the previous closing levels. The nearest Brent futures eased by 0.2% to about U.S. $84.9.

Investment activity in Europe and the U.S. will likely remain subdued due to Easter celebrations.

Alor Broker analyst Alexei Antonov said that the gold producers may become the loss leaders after the gold prices decreased by 0.6% below $2,000 per ounce. Growth to $2,100 seems unlikely until a new wave of global fears, he said.

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