Russian stocks may open flat on mixed backdrop, low activity

MOSCOW, Nov 25 (PRIME) -- The Russian stock market may open flat on Friday and consolidate during the day ahead of the weekend, with activity of global investors being low again, analysts said.

“The mixed external background provides for a flat opening of the Russian market. During the session the MOEX Russia Index will try and attempt to consolidate in the positive zone,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

Overall global activity of investors will be low as the U.S. will have a short post-holiday session, with some investors being off for a long weekend, he added.

The moods on the global floors are mixed in the morning prior to Russia’s trading opening, Zvarich said. The leading Asian bourses are losing within 0.3%, except China with a 0.4% rise, and the futures on the U.S. main stock indices are gaining 0.2%. The next futures on Brent oil is rising 0.4% to U.S. $85.7 per barrel.

Otkritie Research leading analyst for global research Andrei Kochetkov said that “the Russian market is likely to spend the day in consolidation, and by the end of the session it may decline as the weekend is traditionally viewed by the market as a period of high risks,” Kochetkov said, adding that the external environment as neutral.

The news flow includes the release of GDP statistics in Germany.

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