Russian stocks can open flat amid mixed foreign background

MOSCOW, May 17 (PRIME) -- The Russian stock market can open neutrally amid a controversial external background on Wednesday, analysts said.

“We expect the MOEX Russian Index to continue growing today. According to our estimates, the benchmark will move within the range of 2,650–2,700,” Alexei Golovinov, chief analyst at PSB Bank, said.

He added that demand for gas giant Gazprom can return if power producers approve dividends, and investors can be interested in oil company Lukoil and mobile connection operator MTS.

Senior analyst at financial supermarket Banki.Ru Bogdan Zvarich expects a neutral opening of the Russian stock market, adding that part of investors can take profit from speculative long positions, which can trigger a fall on the market to test the nearest support line of 2,600.

Sentiments on the global market look controversial. Major Asian indices are demonstrating mixed dynamics, and the core U.S. indices futures are adding up to 0.2%. The Brent oil price is losing 0.2% to U.S. $74.7 per barrel, he added.

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