Russian stocks may open mixed as markets offer no clear drivers

MOSCOW, Feb 6 (PRIME) -- The Russian stock market can open mixed or lower on Monday on the back of a worsening foreign background, analysts said.

“We expect the Russian stock market to open with moderate changes of up to 0.6% within the range of 2,235–2,260 of the MOEX Russia Index… The benchmark is likely to consolidate later waiting for new signals for directed movement,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

He also said that the external background looks uncertain with the core U.S. indices futures falling by 0.2–0.6%, the Brent oil price adding 0.5%, gold prices advancing by 0.7%, and the main Asian bourses trading mixed.

Senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said that Russian shares will be pressured by a foreign environment worsening in the morning and the market can correct downwards from the local peaks.

He also said that a downward trend was seen in oil prices last week, which can also impact Russian stocks at the beginning of the week.

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