Russian stocks seen falling early on geopolitical pressure - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Russian stocks seen falling early on geopolitical pressure

MOSCOW, May 5 (PRIME) -- The Russian stock market is likely to continue contraction on Thursday morning as there are no positive drivers capable of outweighing the negative impact of the geopolitical factor, analysts said.

УSpeaking about the foreign boursesТ mood on Thursday morning, we can say they are positive. The leading Asian bourses gain up to 1.4%, the futures for the main U.S. indices consolidate around WednesdayТs closing, while the closest futures for the Brent oil rose by 0.8% close to U.S. $111 per barrel,Ф Bogdan Zvarich, senior analyst at financial supermarket, said.

УIn spite of the better external background, we expect the Russian shares to continue their negative dynamics, as the geopolitical risks are still the main pressing factor.Ф

As a result, the MOEX Russia Index may retreat to 2,300Ц2,350 and test the lower threshold of the range, he said.

УThe market has found no reason to resume growth. On the contrary, the market sentiment is in a downward movement due to toughening of the direct and indirect sanction pressure. The export-oriented Russian market also suffers from the negative impact of excessive strengthening of the ruble,Ф Vasily Karpunin, head of BCS World of InvestmentТs department for information and research, said.

The outlook on the MOEX Russia Index is neutral, and a scenario of wide-range consolidation with contractions to 2,300 and even below is possible. УThe shares of exporters have lost the advantage of the exchange rate, and they will continue moving in unison with the shares of companies that are focused on the internal market,Ф Karpunin said.

But Vitaly Manzhos, senior analyst at investment company Algo Capital, said that the MOEX Russia Index may start the day with an increase of up to 1.5% in the range of 2,375Ц2,410 as it would receive support from the technical factors and the positive external background.

УIn the second half of the day, only the important geopolitical news can have an impact on the local share market, and it is very likely that they will be connected to sanctions,Ф Manzhos said.


05.05.2022 09:29
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 61.2171 +0.2139 29 jul
USD 60.2031 -0.0167 29 jul
Stock Market Indices
1D 1W 1M 1Y
micex 2189.16 -0.32 18:51 28 jul
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 196.24 -0.13 18:36 28 jul
lkoh 3847.50 0.00 18:53 28 jul
rosn 348.70 0.00 18:49 28 jul
sber 131.69 -0.61 18:36 28 jul
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 61.1000 +0.5550 14:59 28 jul
USDTD 60.8350 +0.9200 17:44 28 jul