Russian stocks seen growing on fading COVID-19 worry, likely oil deal - 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 growing on fading COVID-19 worry, likely oil deal

MOSCOW, Apr 6 (PRIME) -- The Russian stock market will likely edge up at opening on Monday because the speed of the COVID-19 spread has started to decrease, while Russia and Saudi Arabia will likely strike an oil output reduction deal on Thursday, analysts said.

"Continuation of the RTS index increase is possible today at the start of trade on the back of abating fears caused by the spread of coronavirus, the statements about a lesser death toll from the COVID-19 among the patients in New York (and several countries of the euro zone, including Italy, Spain, France) have influenced the mood of global traders," Olma senior analyst Anton Startsev said.

The Brent price rose by 15.73% to U.S. $34.65 on April 3. Sergei Drozdov, analyst at investment company Finam, said that on Monday, the attention of market will be drawn to the statements about a meeting of the participants of the OPEC plus deal scheduled for Thursday.

"The market is waiting for global oil producers to reduce production by 10 million barrels per day. According to preliminary data, Saudi Arabia, Russia and the countries of the cartel do not mind this step. But whether the U.S. will join the new deal is the key suspense which can cool enthusiasm of the bulls for some time," Drozdov said.

Drozdov said that the local support levels of the MOEX Russia Index are 2,550 and 2,490, the resistance one is 2,610. The local RTS Index support levels are 1,030 and 1,000, the key resistance is 1,064.

End %%mk/jst%%

06.04.2020 09:27
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 80.2689 -0.1445 11 jul
USD 71.2298 +0.3498 11 jul
Stock Market Indices
1D 1W 1M 1Y
rtsi 1245.65 +0.91 18:50 10 jul
micex 2800.94 +0.67 18:50 10 jul
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 199.44 -0.86 23:49 10 jul
lkoh 5087.00 -6.78 23:49 10 jul
rosn 364.25 -0.52 23:49 10 jul
sber 209.11 -0.88 23:49 10 jul
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 80.1125 -0.1575 14:59 10 jul
USDTD 70.6675 -0.2200 17:44 10 jul