Russian stocks may open flat due to mixed drivers
MOSCOW, Mar 20 (PRIME) -- Russian stocks are likely to open unchanged on Tuesday as a negative impact from contraction of the world indices may be balanced by support of rising oil prices, analysts said.
Vitaly Manzhos, a senior risk manager at investment company Nord Capital, said that the background prior to the start of trade in Russia is mixed as the U.S. stock index futures are †rising or falling within 0.3%, JapanТs Nikkei225 index is losing 0.6%, and Hong KongТs Hang Seng is falling 0.5%. The Brent oil price grows.
According to the ICE Exchange, the Brent gained 0.72% to U.S. $66.69 per barrel as of 8.45 a.m. Moscow time.
УWe expect a neutral start of trade in Russia with insignificant changes of the MOEX Russia Index around 2,280Ц2,285. The levels of 2,270 and 2,260 will become the closest support, while 2,290 and 2,300 will act as resistance,Ф Manzhos said, adding that the index is likely to continue the day in a neutral way waiting for drivers.
Anton Startsev, a leading analyst at investment company Olma, said that the RTS index may experience a slight contraction at the beginning of the day.
УWe can register a new increase of volatility on the Western stock floors, which has a negative impact on activity of investors at emerging markets. Still, the scenario of a noticeable downward movement is highly unlikely at least until the Federal Reserve System releases a comment that may set tradersТ expectations for dynamics of interest rates,Ф Startsev said.
The U.S. Federal Reserve System is to release its comments on Wednesday.