Russian stocks may open neutrally on mixed environ, low oil price

MOSCOW, Jul 15 (PRIME) -- The Russian stock market may open neutrally or edge down slightly at the opening on Thursday following a mixed foreign background with oil prices continuing to fall, analysts said.

“Neutral opening is expected (on the Russian stock market). Summer dynamics with marginal changes in quotations of the shares will continue. Similar trendless dynamics are seen on other emerging markets as well,” Andrei Vernikov, head of investment analysis department of Investment Group Univer, said.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, sees the MOEX Russia Index opening 0.1–0.3% lower within the range of 3,820–3,830 amid a worsened crude market situation.

The Brent oil price fell by another 0.7% in the morning after a previous decrease, he added.

Georgy Vashchenko, head of investment company Freedom Finance’s department for trade operations on the Russian stock market, expects mixed dynamics on the local stock market on Thursday with a trading range of 3,800–3,850 for the MOEX Russia Index.

The market can also be driven by a release of operating results for April–June by largest children goods retailer Detsky Mir, and a recommendation on dividends for January–June by the board of directors of aluminum producer RUSAL.

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