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Russian stocks may open higher as geopolitical risks ease

MOSCOW, Jun 29 (PRIME) -- Russian stocks may grow on Friday following the world stock indices and easing†geopolitical tensions around the country, analysts said.

УAn increase of the RTS index is possible today at the beginning of trade in line with the world indices. Attention of players of stock and currency markets switched to Europe, where leaders of the E.U. agreed on a package of measures to restrain the inflow of migrants. This means that positions of Italy and other large E.U. states have become closer, and markets saw that as easing of geopolitical risks,Ф Anton Startsev, a senior analyst at investment company Olma, said.

The general background for the Russian stock market is moderately positive with the U.S. stock index futures gaining 0.4Ц0.8% in the morning, the Asian floors staying in the green, and the Brent oil price sliding only 0.01% to U.S. $77.84 per barrel as of 8.44 a.m. Moscow time, according to the ICE exchange.

УWe expect the MOEX Russia Index to open with a slight increase of about 0.3% in the range of 2,255Ц2,260. The levels of 2,250 and 2,240 will act as support, while the levels of 2,270 and 2,280 will once again become the noticeable resistance,Ф Vitaly Manzhos, a senior risk manager at investment company Nord Capital, said.

Geopolitical tensions around Russia eased on Thursday on the news that President Vladimir Putin will meet with U.S. President Donald Trump in Finland on July 16, and French lawmakers dropped their tax evasion accusations against Russian Senator Suleiman Kerimov, Manzhos said.

УTaking into account the current state of affairs of the Сcollective WestТ with Russia, we can see that as a very positive sign,Ф he said.

Manzhos also said that local traders will track a slew of macro statistics from the E.U. and the U.S., while statements about Russia made during the Friday summit of the E.U. leaders may have a negative impact on trade.

End

29.06.2018 09:27
 
 
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