Russian stocks can open neutrally on mixed oil, foreign mkt trends

MOSCOW, Jun 1 (PRIME) -- The Russian stock market will likely open neutrally on Friday as investors feel uncertainty as the oil price and foreign markets dynamics are mixed and highly volatile, analysts said.

“The state of external background before the start of trade in Russia can be qualified as indeterminate, or close to neutral,” Vitaly Manzhos, a senior risk manager at investment company Nord Capital said.

U.S. stock market futures grew by up to 0.2%, Brent price fell 0.2%, gold futures lost 0.1%, Japan’s Nikkei 225 rose 0.2%, Hong Kong’s Hang Seng fell 0.1% on Friday in the morning.

Manzhos said that earlier in the week oil futures were trying recover to after a decrease.

He said that the MOEX Russia index will likely open slightly higher than 2,300. The levels of 2,290 and 2,280 will be the closest support ones and of 2,320 and 2,330 the resistance ones.

Anton Startsev, a senior analyst at investment company Olma, said that the RTS will likely consolidate in the first half of the day as an uncertainty of the external background is a barrier for a stable trend.

Volatility on global stock markets can grow after release of a U.S. non-farm payrolls report at 3:30 p.m., Moscow time, Startsev said.

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