Russian stocks may edge down due to negative global environment

MOSCOW, Jul 8 (PRIME) -- The Russian stock market may slide at the opening on Monday amid a negative global background and significant local dividend cut-offs, analysts said.

"(Oil company) Lukoil, (mobile operator) MTS and (power producer) RusHydro will start trading ex-dividend which may make the market fall by 18–17 points. The cut-offs and the worsening global market sentiment may result in the MOEX Russia Index's fall to 2,800–2,810 in the morning," Promsvyazbank analyst Mikhail Poddubsky said.

Olma senior analyst Anton Startsev said that the RTS index may also edge down amid a discouraging foreign environment, including strong U.S. payroll data and rising geopolitical tensions over Iran's nuclear program, which is favorable news for safety assets and the U.S. dollar, but not emerging markets.

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