Russian stocks seen neutral amid no trading on Western markets

MOSCOW, Dec 25 (PRIME) -- The Russian stock market is expected to consolidate at the beginning of the trading session on Monday amid the Christmas holiday on Western markets, analysts said.

“The Russian stock market can consolidate near the current level at the beginning of the trading session on Monday considering a lack of external factors. We can see no reasons for directed movement, but purchases can prevail during the trading session,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

“The MOEX Russia Index can rise to over 3,100 hence,” he added.

The coming week is likely to be calm on the global market, Zvarich said. On Monday, Christmas is celebrated, so a part of Western bourses will be closed at the beginning of the week while some investors have already departed for their Christmas holidays.

BitRiver financial analyst Vladislav Antonov said that the global crude and foreign exchange markets are also closed for the holiday.

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