Russian stocks may open flat on summer standstill

MOSCOW, Jul 22 (PRIME) -- Russian stocks are likely to open with marginal changes on Friday as investors are preparing for eventless summer days because the ex-dividend date period has ended, analysts said.

“The ultimate influence of the key external factors that have a significant impact on the behavior of the Russian stock market is close to neutral today in the start of the day under our estimates,” Oleg Shagov, head of investment company Solid’s analytical department, said.

“The MICEX can continue to drift close to the current level on the back of a summer lull, now that the ex-dividend date period is over,” he said.

Brent prices are recovering after a recent decline, which will most probably outweigh a negative influence of falling Asian markets and expectations of a downward gap at the opening of the trading session in Europe, Shagov said.

The MICEX is expected to open at 1,925–1,930 and later dynamics will depend on the oil price and Western indices’ fluctuations, as well as on the ruble rate changes and economic statistics, Shagov said.

The RTS may decrease on a drop on Asian markets triggered by a statement by the Bank of Japan that it opposes monetary stimuli for the economy, Anton Startsev, a senior analyst at investment company Olma, said.

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