Russian stocks may open flat on Greece bailout vote, stable oil

MOSCOW, Jul 16 (PRIME) -- Russian stocks may open flat or slightly increase on Thursday, as foreign background improved on the Greek parliament passing austerity measures demanded by lenders and with oil prices being stable, analysts said.

“We expect the Russian market to open in a neutral zone. A resistance zone of 1,650–1,660 points continues to be 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 moderately positive today in the morning. Brent oil prices are slightly growing, maintaining the level of over U.S. $57 per barrel. U.S. stock market futures are demonstrating positive dynamics. Leading Asian stock indicators are mostly growing,” the analyst said.

The Russian stock market may slightly increase at the opening on positive foreign background, as the Greek parliament has approved a package of budget saving measures, which is an important step to receive international financial aid, Olma’s leading analyst Anton Startsev said. The Greek financing issue will be discussed by finance ministers of the Eurozone by phone later on Thursday, while in the second half of the day the European Central Bank will discuss whether to increase the level of emergency funding for the Greek banking system, the analyst said.

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