Russian stocks seen firming on US futures, oil price rise

MOSCOW, Apr 8 (PRIME) -- The Russian stock market will likely firm at opening on Friday following a positive trend on the foreign stock markets and oil prices, analysts said.

"Speaking about the global markets mood on Friday morning, we can characterize it as moderately positive. The leading Asian markets rose by 0.6%, reflecting yesterday’s increase of the U.S. markets,” Bogdan Zvarich, senior analyst at financial supermarket Banki.ru, said.

“The key U.S. indices futures consolidate near yesterday's closing. The nearest Brent futures add 0.3%, trading at about U.S. $100.8 per barrel."

He said that later in the day active sales of  the Russian shares is not ruled out due to the remaining geopolitical risks, and the MOEX Russia Index can retrench beyond 2,600, the level the index exceeded in the past three sessions.

The foreign market participants preferred protective assets as the U.S. Federal Reserve System (Fed) is likely to raise the key rate by 50 basis points in May. There is also some uncertainty related to the Chinese measures against the spread of the COVID-19, which might prevent economic growth.

Vasily Karpunin, head of the information and analytics content of BCS World of Investment, said that Iran is close to signing of a nuclear program deal, which will unlock about 1 million barrels per day of oil cutting prices.

Karpunin also said that Yandex and Ozon will grow on the back of Russia's restrictions on Yandex's competitor Google and growth in the number of clients, respectively.

Lukoil reported possible suspension of refineries and will likely be under pressure.

ALROSA will probably fall after the U.S. sanctions.

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