Russian stocks may correct down at opening on new US sanctions

MOSCOW, Jul 11 (PRIME) -- The Russian stock market may correct down at the opening on Friday on fresh restrictions against Russia's state debt adopted by the U.S., analysts said.

"Russian stocks may correct downwards in the first minutes of the trading session. The external background looks neutral, but the domestic market may be pressured by the news that the House of Representatives of the U.S. Congress has passed amendments to the 2020 fiscal year envisaging sanctions against Russia’s sovereign debt (over alleged election meddling)," Olma senior analyst Anton Startsev said.

Analysts of investment company Solid said that the external background is neutral with two key topics supporting the global market over the past weeks. The U.S. and China are making attempts to reach an agreement, and investors expect a key rate cut by the U.S. Federal Reserve.

Promsvyazbank analyst Mikhail Poddubsky said that diamond producer ALROSA will start trading ex-dividend.

Steelmaker Severstal is expected to publish financial reports and this may also influence the Russian market.

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