Russian stocks may sag on oil price decrease, Gazprom ex-div date

MOSCOW, Jul 19 (PRIME) -- The Russian stock market may decline at Tuesday opening due to a decrease in oil prices and ex-dividend dates of gas giant Gazprom and oil pipeline monopoly Transneft, analysts said.

“The ultimate influence of key external factors that have a significant impact on the behavior of the Russian stock market is moderately negative today in the start of the day under our estimates,” Oleg Shagov, head of investment company Solid’s analytical department, said.

Oil prices slid below the U.S. $47 notch as concerns over oil transit across Turkey have calmed as the Turkish authorities have made steps to eliminate the issues which arose after a coup attempt, Shagov said.

U.S. stock market futures are declining, Asian markets are showing mixed trends and the European premarket signals a downward gap at the opening later on Tuesday, all these factors will contribute to the downbeat mood in Russia, he said.

Another negative factor is ex-dividend dates of the MICEX’s giants Gazprom and Transneft, Shagov said.

As a result, the MICEX can open at about 1,925, he said. The RTS will consolidate below 970 waiting for a chance to break the resistance zone, Anton Startsev, a senior analyst at investment company Olma, said.

Later in the day, Russian investors will wait for a release of X5 Retail Group, Polymetal and Evraz’s operating data. The International Monetary Fund (IMF) will release a global economic forecast and it may also significantly influence the Russian market, Shagov said.

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