Russian stocks can open with marginal changes on uncertain environ

MOSCOW, Mar 9 (PRIME) -- The Russian stock market can open neutrally or lower on Thursday and consolidate later in the day amid an uncertain foreign background, analysts said.

“We expect the Russian stock market to open with marginal changes of up to 0.1–0.5% within the range of 2,285–2,305 of the MOEX Russia Index… The neutral state of the external background in the morning creates conditions for the opening of the benchmark with moderate fluctuations,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

Manzhos sees the external environment as uncertain or close to neutral with the core U.S. indices futures falling by around 0.1%, the Brent oil price adding 0.1%, and the Asian markets trading mixed.

Senior analyst at financial supermarket Banki.Ru Bogdan Zvarich believes that Russian stocks can be exposed to pressure at the opening as the Brent oil price has failed to stay above the U.S. $85 per barrel mark.

Some investors can also be willing to take profit as the market has reached new local lows, he added.

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