Russian stocks seen dipping on new sanctions package talks

MOSCOW, May 12 (PRIME) -- The Russian stock market will likely ease at opening on Friday as worries about the new package of the E.U. sanctions will be somewhat offset by dividend expectations, analysts said.

"The external background does not seem favorable today in the morning. Oil lost about 0.5% during the Asian session, the precious metals are getting cheaper,” head of Alor Broker’s investment consulting department Alexei Antonov said.

“This is why moderate sales will likely continue in the first half of the day. At the same time, we do not expect a long and deep correction."

According to the analyst, discussions of the next package of sanctions against Russia pressure the market.

Andrei Kochetkov, leading analyst for global research at Otkritie Broker, said that a decrease of the oil prices, caused by troubles in the U.S. banking sector and expectations of a global recession, has no impact on the price of Russian oil. Still, the external background for the Russian session is neutral to negative.

Dividend hopes are still supporting the Russian market, he said.

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