Stocks to open neutrally on high oil prices, political risks
MOSCOW, Apr 20 (PRIME) -- The Russian stock market will likely open flat on Friday as the effect of relatively high oil prices will be offset by expectations of new sanctions against Moscow, analysts said.
УThe external background at the beginning of Russian trade can be qualified as uncertain or close to neutral,Ф Vitaly Manzhos, a senior risk manager at investment company Nord Capital, said.
УLocal trade participants ignored yesterdayТs record highs of oil futures. At the same time, Brent contracts exceeded U.S. $74.5 per barrel for a short periodЕ the remaining geopolitical risks and a threat of further scaling up of external sanctions make local market participants moderately cautious.Ф
Sergei Drozdov, an analyst at investment company Finam, said that local support of the MOEX Russia Index stands at 2,220 and core support at 2,200. The resistance level of the MOEX Russia Index is at 2,245 and at 2,065. The RTS support level is 1,140 and resistance 1,180 and 1,200.
Investors will follow news from a meeting between Russian Energy Minister Alexander Novak and his Saudi counterpart Khalid Al-Falih that started in Jeddah on Thursday.
Statistics from U.S. oil service company Baker Hughes will define oil prices and the moods of Russian market investors on April 23, he said.