Russian stocks seen flat ahead of central bank's meeting

MOSCOW, Jun 9 (PRIME) -- The Russian stock market will likely open with marginal changes on Friday, as investors will be waiting for a key rate decision by the central bank, analysts said.

"The index (MOEX Russia Index) is in a sideways trend. The resistance is at 2,720. The ruble weakening tendency continues, which means that the buyers will pursue setting new highs," BitRiver’s financial analyst Vladislav Antonov said.

He added that there is a high degree of uncertainty on the market ahead of a decision of the central bank on the key rate on Friday, an expected announcement of the 11th package of sanctions against Russia by the E.U. on June 14 and a U.S. key rate decision on the same day.

According to Cifra Broker analysts, the Russian market will likely start trading with a neutral dynamics. The central bank's decision will unlikely affect the stock market, as the authority is expected to keep the rate at 7.5%.

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