Russian stocks may continue to rebound on optimistic environment

MOSCOW, Apr 8 (PRIME) -- The Russian stock market on Thursday may continue a bounce-back, which began earlier, thanks to a moderately positive background, analysts said.

“The U.S. indices futures are rising by around 0.5% as investors found no signals to faster than expected toughening of the monetary policy, so a bounce-back on the Russian stock market that started yesterday may continue and even strengthen,” Alor Broker analyst Alexei Antonov said.

He added that the domestic market may also be supported by reports of the Western mass media that the fresh U.S. sanctions over Russia’s alleged meddling in the U.S. election may comprise expulsion of several diplomats and additional restrictions against people “close” to President Vladimir Putin, which means that the U.S. does not want to worsen its relations with Russia.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, said that the U.S. indices futures and the Asian markets are trading higher, the Brent oil price fell 0.7%, and gold added 0.1%.

Antonov also said that non-ferrous metals producers, top bank Sberbank, which released a sound financial report yesterday, and metals giant Norilsk Nickel may advance during the day.

Local investors will also track news from Putin’s meeting with the government to discuss fulfillment of his 2019 and 2020 addresses, and IFRS financial report for October–December 2020 of multi-industry holding Sistema.

End