Russian stocks may open mixed as US dollar rises

MOSCOW, Nov 18 (PRIME) -- Russian stocks may open mixed on Friday as a neutral external background provides the MICEX index with no strong drivers, but the RTS index may contract due to strengthening of the U.S. dollar, analysts said.

“Today a downward correction of the RTS index is possible at the beginning of the day under external pressure, which is characterized by the strengthening of the U.S. dollar – the DXY index climbed way above 100 points – and higher yields on the debt market, as the yield to maturity of 30-year U.S. treasuries exceeded 3.0% annually,” Anton Startsev, a senior analyst at investment company Olma, said.

Oleg Shagov, head of investment company Solid’s research department, said that the general background prior to the opening of the Russian stock market is neutral. The Brent oil price is fluctuating around U.S. $46 as investors are waiting for the results of Russia–OPEC talks, the U.S. stock index futures are changing insignificantly, and major Asian floors are showing no common dynamics, he said.

“We expect the Russian stock market to open with marginal changes of the MICEX index around the yesterday’s closing of 2,042.76, and suppose that the stock indicator will continue to fluctuate around the current levels and react to changes in the external background,” Shagov said.

Shagov also said that investors will track statements of world politicians and other officials, including heads of the U.S. Federal Reserve System and the European Central Bank, during the day.

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