Russian stocks may rise in line with Asia, no trading in Europe

MOSCOW, Apr 5 (PRIME) -- The Russian stock market may rise at the opening on Monday amid growth of Asian floors and no trading in Europe due to holidays, analysts said.

“Today, at the start of trading, we expect a moderate predominance of purchases in Russian shares, which will allow the MOEX Russia Index to rise above 3,560 points. At the same time, in the future, the market will move to a sideways movement, amid an absence of trading on European floors. Towards the end of the session, players will become more active on our market, which is facilitated by the return of the U.S. investors after a long weekend,” Promsvyazbank chief analyst Bogdan Zvarich said.

The foreign background before the start of trading in Russia is mixed, the analyst said. The main Asian floors are growing within 0.8% amid no trading in China. The U.S. stock index futures are gaining up to 0.6%. The nearest futures for Brent oil are losing 1% trading around U.S. $64.2 per barrel. The European floors are closed for holidays.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the MOEX Russia Index to open with a moderate change within 0.1–0.3%, in the range of 3,550–3,570 points.

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