Russian stocks may edge up slightly on mixed foreign background

MOSCOW, Oct 27 (PRIME) -- The Russian stock market may open slightly higher and consolidate during the day on Tuesday following an uncertain global environment with mixed dynamics seen on foreign stock exchanges and rising commodities prices, analysts said.

“The U.S. indices futures are rising 0.2% and crude is adding 0.7% together with industrial and precious metals so (the Russian stock market) is likely to open slightly higher. However, investors’ sentiments on foreign floors changes very rapidly so we can see several new waves of sales this week,” Alor Broker analyst Alexei Antonov said.

Investment company Finam analyst Alexei Kalachyov said that the external background looks uncertain with Asian markets mainly trading in the red territory.

Olma senior analyst Anton Startsev sees no ground for the RTS index to leave its consolidation range thanks to a mixed global environment with the Brent oil price maintaining its position above the psychologically important level of U.S. $40 per barrel and uncertainty linked to the upcoming U.S. presidential election.

Russian traders will also follow financial results of power producer Unipro and operating results of aluminum giant UC RUSAL and electronic goods retailer M.Video-Eldorado for July–September.

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