Russian stocks likely to open flat on wait for new noticeable cues

MOSCOW, Sep 14 (PRIME) -- The Russian stock market is likely to open flat and consolidate during the day on Friday as investors are waiting for new significant drivers, analysts said.

“The meeting of the Central Bank of Russia may become the key event for investors on the Russian stock market today. We expect no adjustment of the key interest rate under the basis scenario,” Promsvyazbank analyst Mikhail Poddubsky said.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the MOEX Russia Index to open flat within 0.3%, in the range of 2,355–2,360 and to consolidate later in the day as investors are waiting for new significant triggers.

The U.S. stock indices futures demonstrate a moderate rise, Asian benchmarks are also seen higher, he said.

Russian traders may also follow the decisions of extraordinary general meetings of shareholders of steelmaker Severstal, which is to discuss dividends for January–June, and agricultural holding Rusagro.

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