Russian stocks may rise at opening in line with foreign floors

MOSCOW, Apr 14 (PRIME) -- The Russian stock market may open higher on Tuesday following the dynamics of external benchmarks, and is likely to consolidate later in the day waiting for significant drivers, analysts said.

“The Russian stock market is likely to edge up by around 1% at the opening, and turn to consolidation later in the day. There are no reasons for strong movements neither in Russia nor in the West as concerns about a fall in the global economy amid the spread of the coronavirus pandemic are countered with stimulation measures,” Alor Broker analyst Alexei Antonov said.

The Brent crude price is consolidating within a “comfortable” range of U.S. $30–33 per barrel awaiting news for a break-through, he added.

Precious metals producers Polyus and Polymetal International are interesting for purchases due to rising gold prices, Antonov also said.

Olma senior analyst Anton Startsev said that the RTS index may edge up at the opening following global benchmarks and thanks to an improving epidemiological situation in Europe.

Investors in Russia are also likely to follow a slew of operating results releases for January–March by integrated steel producer Magnitogorsk Iron and Steel Works (MMK), steelmaker Severstal, and real estate developer PIK Group.

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