Russian stocks may fall at opening due to persisting uncertainty

MOSCOW, Jan 23 (PRIME) -- The Russian stock market is likely to open slightly lower and consolidate later in the day on Wednesday as the global background remains unclear, analysts said.

“We expect the MOEX Russia Index to edge down by an insignificant 0.2–0.3% within a 2,460–2,465 range… The benchmark is likely to consolidate around a 2,450 mark later in the day thanks to a doubtful global environment,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The major U.S. indices futures are seen slightly higher, the Brent oil price looks flat and Asian markets are in the negative territory, he added.

Olma senior analyst Anton Startsev said that the technical analysis data point to consolidation of the RTS index within a 1,150–1,170 range in the short term while the external environment gives no reasons for sales, but pressures investor activity.

Traders will also follow financial results releases for October–December and 2018 by grocery retailer X5 Retail Group and Petropavlovsk Plc, which operates gold deposits in Russia.

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