Russian stocks may open flat in absence of strong drivers

MOSCOW, Jun 29 (PRIME) -- The Russian stock market may start Thursday’s trading session with marginal changes in the absence of strong drivers, analysts said.

“Today at the start of the trading we expect our market to consolidate near the levels of the previous close in the absence of reasons for the directional movement,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

But during the session, in case the energy market moves to growth, purchases may become more active, which will allow the market to make an attempt to continue recovery. In this case the MOEX Russia Index will consolidate today in the range of 2,780–2,800 points and make a step to its upper boundary, the analyst said.

“Investors are in no hurry to buy shares at current levels. Calls for a downward correction appeared, while the technical picture remains on the side of the buyers,” BitRiver financial analyst Vladislav Antonov said.

PSB Bank senior analyst Yegor Zhilnikov said that the dollar may inertially demonstrate growth to the level of 87 rubles, however, the dollar looks locally overbought, therefore the strengthening will be restrained.

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