Russian stocks may open flat amid uncertain global background

MOSCOW, Aug 18 (PRIME) -- The Russian stock market is unlikely to move sharply at the opening on Tuesday in light of a mixed foreign background, and the market may consolidate later in the day, analysts said.

“We expect the MOEX Russia Index to open with marginal changes of 0.2–0.4% within a 3,040–3.060 range. The index is likely to consolidate later in the day thanks to an uncertain external background,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The U.S. indices futures are seen around 0.1% higher, the Brent oil price lost 0.4%, and the Asian markets are trading mixed, he added.

Olma senior analyst Anton Startsev said that the RTS index may correct downwards and consolidate in the short term as geopolitical risks again impact investors’ risk appetite. Belarus with its political protests has become an important newsmaker, and the E.U. leaders will discuss the situation in the state on Wednesday morning.

In Russia, investors may also be interested in decisions of the board of directors of meat producer Cherkizovo Group that is to discuss dividends for January–June.

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