Russian stocks may open flat or lower amid uncertain background

MOSCOW, Apr 9 (PRIME) -- The Russian stock market is likely to open flat or ease at opening and consolidate later in the day on Monday due to an uncertain foreign environment, analysts said.

“We expect a neutral start of trading in Russia with insignificant fluctuations within a 2,280–2,285 range of the MOEX Russia Index… the benchmark is likely to consolidate later due to the fact that this morning’s improvement of the global background is only temporary,” analysts of investment company Nord Capital said.

Nord Capital added that the market may be highly influenced by oil price dynamics and new sanctions imposed by the U.S. against Russia on April 6.

Alpari senior analyst Vadim Iosub said that the Brent oil price is recovering from previous losses and is presently seen at around U.S. $67.2 per barrel.

Senior analyst at Freedom Finance Bogdan Zvarich said that the domestic indices may decline moderately at opening, but win back their losses later in the day.

Olma senior analyst Anton Startsev said that the global environment is not stable enough to ensure a break of the RTS index out of its current consolidation range.

Investors in Russia may also be interested in decisions made by the board of directors of Russian oil company Lukoil.

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