Russian stocks may edge down as Sberbank goes ex-dividend

MOSCOW, Jun 11 (PRIME) -- The Russian stock market may open lower amid a mostly favorable external environment on Tuesday as the market’s most liquid blue chip, top bank Sberbank, will begin trading ex-dividend, analysts said.

“The external background is still favorable enough to support demand for Russian stocks. At the same time, the influence of the trade wars factor is still active, the issue of mutual U.S.-Chinese duties is acute with U.S. President Donald Trump threatening to raise the duties if China’s president refuses to meet at the G20 summit later in June,” Olma senior analyst Anton Startsev said.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, said that the MOEX Russia Index is likely to edge down around 0.5–0.7% at the opening as Sberbank will begin trading ex-dividend. The market may consolidate later.

The Brent oil price corrected down to around U.S. $62.5 per barrel. Asian markets are in the green territory.

In Russia, investors may also be interested in decision of the annual general meetings of shareholders of oil company Bashneft and power producer WGC-2.

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