Russian stocks seen firming as foreign markets, oil price rise

MOSCOW, Apr 2 (PRIME) -- The Russian stock market will likely firm at the opening of the trading session on Monday on the back of growth of foreign markets and oil prices but a holiday in Europe will limit the positive dynamics, analysts said.

“Continuation of the RTS Index consolidation is possible today during the day. The Easter holidays continue in the majority of European countries, and a significant increase of non-resident activity seems improbable,” Olma senior analyst Anton Startsev said.

The U.S. stock market futures as well as Asian markets edge up, and these factors can trigger an increase of the Russian indices.

Vitaly Manzhos, senior risk manager at investment company Nord Capital, said that the MOEX Russia Index can open at 2,270–2,275. The levels of 2,260 and 2,250 will remain as support and 2,280 and 2,290 resistance.

Startsev said that release of U.S. ISM manufacturing data can affect the moods of Russian investors to a certain degree later on Monday.

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