Russian stocks may open flat on lack of strong drivers

MOSCOW, Mar 15 (PRIME) -- Russian stocks may open neutrally on Thursday amid a moderate growth of oil prices and a lack of strong drivers, analysts said.

“We expect a neutral start of trading in Russia with an insignificant change at the MOEX Russia Index, around 2,275 points,” Vitaly Manzhos, senior risk manager at investment company Nord Capital, said. The nearest support levels will be 2,260 and 2,250 points, while 2,290 and 2,300 will act as resistance.

After the neutral opening, the MOEX Russia Index may make attempts to restore to the range of 2,280–2,290 points, while the foreign background does not so far create conditions for an active game to raise Russian shares, Manzhos said.

Olma senior analyst Anton Startsev said that downward correction at the RTS index can deepen at the start of trading, as geopolitical risks and uncertainty connected with the U.S. economic policy remain.

Among other corporate events, investors will follow publication of financial results by uncut diamond giant ALROSA and mobile operator MegaFon, Startsev said.

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