Russia stocks may open unchanged on mixed background

MOSCOW, Aug 29 (PRIME) -- The Russian stock market is likely to open flat and consolidate during the day on Wednesday due to a neutral foreign background, analysts said.

“The external background gives no reasons for tangible market movements, but the rising yield of the U.S. treasuries may impact demand on emerging markets,” Olma senior analyst Anton Startsev said.

He added that the factor will likely pressure the RTS index in early trade.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expected the MOEX Russia index to open mostly flat within a 2,315-2,320 range and consolidate later in the day due to the neutral global environment.

He added that the U.S. benchmarks and Asian markets are seen slightly higher and the Brent oil price is consolidating at around U.S. $76.3 per barrel.

Russian traders will also follow International Financial Reporting Standards (IFRS) financial reports for January–June and April–June released by gas giant Gazprom, oil company Lukoil, national flagship carrier Aeroflot, TCS Group, which includes Tinkoff Bank and Tinkoff Insurance, grocery retailers Lenta and O’Key, energy companies Rosseti, Lenenergo and WGC-2, and cargo operator TransContainer.

End