Russian stocks may open flat on uncertain external background

MOSCOW, Sep 15 (PRIME) -- The Russian stock market may open with marginal changes and consolidate later in the day on Tuesday thanks to a mixed global background, analysts said.  

“We expect the MOEX Russia Index to open with moderate changes of 0.2–0.4% within the 2,920–2,940 range… After a neutral opening, the benchmark is highly likely to continue its previous consolidation,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.  

The external environment is uncertain, he added. The U.S. stock index futures are growing by 0.2–0.4%, the Brent oil price is trading 0.3% lower, and Asian markets are seen mixed.

Olma senior analyst Anton Startsev said that the external background is still relatively favorable for the Russian stock market, with better than expected retail sales and industrial production data published by China earlier in the day.

Shoes retailer Obuv Rossii is expected to release IFRS results for April–June, January–June, and to hold a conference call, which may also influence the local market.

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