Russian stocks can show uncertain dynamics on negative background

MOSCOW, Jan 13 (PRIME) -- The Russian stock market can open with insignificant changes and consolidate near the opening levels during the day on Friday in light of a slightly negative foreign background, analysts said.

“We expect the Russian stock market to open with moderate changes of around 0.2–0.7% of the MOEX Russia Index… The restrained worsening of the external background is creating conditions for a fall of the benchmark,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

“The index is likely to consolidate near the opening level later in the day waiting for new signals for a directed movement,” he added.

Manzhos sees the present foreign environment as moderately negative with the core U.S. indices futures falling by 0.2–0.4%, the Brent oil price losing 0.3%, the gold price decreasing by 0.1%, and the main Asian bourses trading mixed.

BitRiver financial analyst Vladislav Antonov expects the MOEX Russia Index to fall to 2,165 ahead of the weekend.

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