Russian stocks can show unclear dynamics on vague environment

MOSCOW, Jan 27 (PRIME) -- The Russian stock market is unlikely to move significantly at the opening on Friday and can continue consolidation later in the day in light of an uncertain foreign environment, analysts said.

“We expect the Russian stock market to open with marginal changes or with moderate growth of up to 0.6% within the 2,165–2,180 range of the MOEX Russia Index… The benchmark is likely to continue consolidation later in the day,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

He added that the present state of the external background looks mixed or uncertain with the core U.S. indices futures rising by around 0.6%, the Brent oil price adding 0.5%, Japan’s Nikkei225 index rising by 0.1%, and the Chinese market still closed for celebration of Lunar New Year.

Alor Broker analyst Alexei Antonov also expects further consolidation and no directed movement on the Russian stock market on Friday.

The ruble is likely to consolidate as well as traders still have no significant arguments for active actions against the currency despite a generally negative trend, Antonov added.

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