Russian stocks may try to rebound due to global market optimism

MOSCOW, Jun 19 (PRIME) -- The Russian stock market is likely to try to recover from last week’s losses on Monday due to a moderately positive external background, analysts said.

“The RTS index may make new attempts to return to above 1,000 in early trade today due to a comparatively favorable external environment. But technical analysis points to a short-term downward trend for the benchmark,” Olma senior analyst Anton Startsev said.

The analyst also added that Brexit talks will start in Brussels to begin a historic exit of the U.K. from the European Union, which may provide additional turbulence to the market.

Oleg Shagov, head of investment company Solid’s research department, said that the MICEX may open flat at around 1,820 and can try to win back previous week’s losses partly during the day.

He added that the major U.S. indices futures and Asian market are trading higher, while the European pre-market trading points to a higher start of trade.

Investors will also follow 2016 dividend decision by Rostelecom’s meeting of shareholders among other corporate events.

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