Russian stocks seen decreasing on Sberbank's dividend gap
MOSCOW, May 10 (PRIME) -- The Russian stock market will likely open lower on Wednesday because the dividend date in the shares of Sberbank ended, analysts said.
"Market attention will focus on the shares of Sberbank, which is to start the day with a dividend gap. It will likely be much smaller than the payments. The market strength or weakness may be judged by how strongly the security will fall at opening and how great the daily loss will be," Alexei Antonov, head of investment consulting department of Alor Broker, said.
BitRiver financial analyst Vladislav Antonov said that the oil market situation remains unclear ahead of statistics releases in the U.S. and China.
Sberbank’s dividend gap will pressure the MOEX Russia Index, where the bank weighs 15.64%, Antonov said.
According to Alor's Antonov, the oil prices have remained high and will support the oil producers, most of all, Lukoil that trades with dividends through June 1.
Senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said that the global market mood was moderately negative on Wednesday in the morning, as the leading Asian floors lost up to 1.5%, and the key U.S. futures consolidated near the closing levels after decreasing on Tuesday.