Russian stocks seen flat amid mixed foreign background, rising oil
MOSCOW, Jul 20 (PRIME) -- Russian stocks are projected to open neutrally on Friday amid a mixed foreign background, rising oil prices, and a lack of major growth drivers, analysts said.
УWe expect a neutral opening of the MOEX Russia Index with an insignificant change of up to 0.3%, around the level of 2,270 points. The nearest support levels will 2,260 and 2,250 points, while 2,290 and 2,300 points will be main resistance,Ф Vitaly Manzhos, a senior risk manager at investment company Nord Capital, said.
The mixed foreign background creates conditions for a neutral opening of the Russian stock market, but the MOEX Russia Index still has some potential for a correctional rebound, which may take place by the middle of the trading day, the analyst said. УThatТs why we do not rule out a recovery of this index to the level of 2,280Ц2,290 points.Ф
Before the start of trading in Russia, the U.S. stock index futures are demonstrating a moderate mixed deviation within 0.3%, Brent oil futures rose 0.3%, gold futures lost 0.2%, JapanТs Nikkei225 decreased 0.6%, and Hong KongТs Hang Seng fell 0.1%.
Olma senior analyst Anton Startsev said that a recovery of stable growth of the RTS index looks unlikely now, as the foreign background on the whole remains uncertain and does not give signals for a capital inflow to the Russian market.