Russian stocks to continue recover from losses on improved environ

MOSCOW, Feb 16 (PRIME) -- The Russian stock market is likely to open higher and continue its recovery from previous losses during the day on Wednesday amid a neutral foreign environment and thanks to decreased geopolitical risks, analysts said.

“Growth (of the Russian stock market) has continued in the morning. Sberbank is the top gainer… although political risks still persist,” Alor Broker analyst Alexei Antonov said.

The external background looks neutral with the main U.S. indices futures slightly falling and crude and metals prices advancing.

Otkritie Broker analyst Andrei Kochetkov added that the mineral resources markets are demonstrating low volatility and that most Asian markets are seen in the positive territory.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the MOEX Russia Index to open around 1.5–2.5% higher within the 3,660–3,690 range, and consolidate near the opening level later in the day.

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