Stocks to rise as Washington postpones sanctions, oil grows
MOSCOW, Apr 18 (PRIME) -- The Russian stock market will increase at the opening on Wednesday propped up by growing oil prices and the U.S. postponement of new sanctions, analysts said.
УThe RTS index may continue to rebound at the start of rade today, there is no significant worsening of geopolitical risks so far and investors can focus on a favorable for the Russian market energy source price dynamics for instance,Ф Anton Startsev, senior analyst at investment company Olma, said.
The market saw the decision by the U.S. president to postpone consideration of new anti-Russian sanctions as easing geopolitical tensions, he said.
Vitaly Manzhos, a senior risk manager at investment company Nord Capital, said that the MOEX Russia Index is to open with an up to 0.5% upward gap at about 2,200. The levels of 2,180 and 2,170 are to be the closest support level and 2,220 and 2,230 the resistance level.
The U.S. stock market futures are rising moderately, the Brent oil price grew by 0.8%. The gold futures lost 0.3%, JapanТs Nikkei225 increased 1.5% and Hong KongТs Hang Seng added 0.8%. According to Manzhos, these factors will contribute to a positive background for the start of the Russian trading session.