Russian stocks may open flat on global lull, consolidating oil

MOSCOW, Jul 30 (PRIME) -- The Russian stock market may trade flat or correct down on Monday following foreign benchmarks amid thin investor activity.

“Neutral dynamics are expected. There are no significant events in focus on the local market so it is likely to follow external floors,” Georgy Vashchenko, director of operations on the Russian stock market at investment company Freedom Finance, said.

The MOEX Russia Index is likely to open at around 2,280–2,300, Vashchenko added.

Olma senior analyst Anton Startsev said that the RTS index may correct downwards due to low investor activity worldwide.

Alpari senior analyst Anna Bodrova said that the oil market is seen almost flat with the Brent oil price at around U.S. $74.7 per barrel and added that the price will likely consolidate within a $74.4–75 per barrel range during the day.

Russian traders may also be interested in publication of Russian Accounting Standards (RAS) financial results for April–June by hydropower giant RusHydro.

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