Russian stocks to trade negatively, can break though 1,900 mark

MOSCOW, Sep 30 (PRIME) -- Negative dynamics is likely to continue on the Russian stock market on Friday amid mounting geopolitical risks, the MOEX Russia Index can break through the 1,900 support line, analysts said.

“Pressure will persist on the Russian stock market on Friday, and the market can make another step toward the 1,900 mark. Geopolitical factors will determine the dynamics,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

The global environment looks neutral, he said. Major Asian indices are trading mixed, the core U.S. indices futures are consolidating at the levels of closing. The Brent oil price has added 0.1% to U.S. $87.3 per barrel.

Grigory Vashchenko, director of the Russian stocks operations department at investment company Freedom Finance, expects high volatility on the Russian market. In case the MOEX Russia Index reaches 1,900, the bears can become more active, and the Moscow Exchange can suspend trading to prevent heavy sales during the day, he said.

Vashchenko recommends only short-term speculative operations or avoiding the market.

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