Russian stocks not to change much amid neutral background

MOSCOW, Apr 19 (PRIME) -- The Russian stock market is not expected to change much at the opening on Monday amid a neutral foreign background, analysts said.

Moods on global markets can be characterized as neutral on Monday morning, Promsvyazbank chief analyst Bogdan Zvarich said. Asian markets are demonstrating mixed dynamics. Futures for major U.S. indices are falling within 0.3% after rising on April 16 and setting new all-time highs. On the energy market, there is a moderate predominance of sales, as a result of which the nearest futures for Brent crude oil retreats by 0.2%, trading at around U.S. $66.7 per barrel, the analyst said.

“This morning, taking into account the external background and the continued relevance of the geopolitical factor, we expect the Russian stock market to move into consolidation, as a result of which the MOEX Russia Index will hold its positions at around 3,600 points. At the same time, in the course of the session, if the external situation improves, purchases in Russian stocks will become more active, as a result of which our market may try to renew the historical highs set in the area of 3,602 points,” Zvarich said.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the MOEX Russia Index to open with a moderate change of 0.1–0.3%, in the range of 3,590–3,610 points. After quite a neutral opening, the index will likely move into consolidation later in the day amid a mixed foreign background, the analyst added.

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