Russian stocks can open neutrally on lack of significant drivers

MOSCOW, Mar 7 (PRIME) -- The Russian stock and foreign currency markets are unlikely to demonstrate steep movement on Tuesday and will open flat and consolidate during the day ahead of a day off, analysts said.

“We expect further consolidation on the Russian stock market in expectation of new signals from the regulator. Investors are waiting for new drivers from the meeting of the central bank’s board of directors scheduled for March 17,” Promsvyazbank analyst Dmitry Gritskevich said.

PSB Bank senior analyst Yegor Zhilnikov expects no significant changes on the foreign currency market as well. The ruble is likely to be trading within the 75–76 rubles per U.S. dollar range and may test the lower bracket of the range ahead of a holiday.

The Russian stock market will be closed for celebration of International Women's Day on Wednesday.

Senior Trader at managing company Alfa-Capital Vladislav Silayev said that the external background looks favorable with the main Asian bourses trading mixed, the core U.S. indices futures and the Brent oil and gold prices rising.

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