Russian stock market unlikely to change much at opening

MOSCOW, Sep 12 (PRIME) -- The Russian stock market is unlikely to show considerable changes at the opening on Monday as the external backdrop is mixed and the return of non-residents from friendly states may not become a significant driver, analysts said.

“Non-residents from friendly states are returning to the Russian market on Monday. The day may become representative in terms of attitude of foreign participants to the prospects of the Russian market,” Veles Capital analyst Yelena Kozhukhova, adding that it is possible that there will be no considerable movements anyway.

The external background is mixed in the morning and may contribute to a moderate change of the MOEX Russia Index at the start of the trading session, Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

Manzhos also said he thinks that the return of non-residents from friendly states has already been factored in and can have no strong influence on trading in Russia in the day.

The futures on the main U.S. stock indices are rising considerably within 0.3–0.7% and the Nikkei225 index is rising 1.1%, while the Chinese stock market is closed because of a national holiday. The Brent oil futures are losing about 1.5%.

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