Russian stock seen opening flat on lack of drivers

MOSCOW, May 6 (PRIME) -- The Russian stock market may move insignificantly at the opening and consolidate later in the day on Thursday in light of a vague foreign background, analysts said.

“We expect the MOEX Russia Index to open with a moderate change of 0.1–0.3%... After an almost neutral opening, the benchmark is likely to consolidate thanks to an uncertain external background,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The U.S. indices futures are seen flat and Asian markets are trading mixed, the Brent oil price inflated 0.2%, and gold added 0.3%, he added.

The market will also be driven by releases of IFRS financial reports for January–March by power producers Unipro and Mosenergo, as well as publication of Russia's Services PMI report for April by researcher Markit.

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