Russian stocks may open flat amid Greek deal, Iran expectations

MOSCOW, Jul 14 (PRIME) -- Russian stocks may open flat on Tuesday amid Greece reaching a compromise with its creditors and expectations of the Iranian nuclear deal that could be signed later in the day, analysts said.

Despite the compromise, Greece will not receive the necessary financial aid until its parliament adopts a plan of reforms that was agreed on with creditors, analysts said.

“We expect the Russian market to open in a neutral zone. A resistance zone of 1,650–1,660 points is an obstacle for the MICEX’ further growth,” Oleg Shagov, head of analytical department at investment company Solid, said.

“Under our estimates, the influence of the main external factors on the Russian stock market is close to neutral today in the morning. Brent oil prices are suffering small losses, reducing to below U.S. $57.5 per barrel. U.S. stock market futures are changing a bit. Leading Asian stock indicators do not demonstrate single dynamics,” the analyst said.

The market will also wait for news connected with an expected signing of an agreement on the Iranian nuclear power program, Vitaly Manzhos, senior analyst at Bank Obrazovanie, said.

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