Russian stocks seen flat amid uncertain foreign background

MOSCOW, Feb 19 (PRIME) -- The Russian stock market will likely open neutrally thanks to a mixed global environment, and consolidate during the day on Tuesday following the crude price dynamics, analysts said.

“The external environment ahead of the market opening in Russia may be called uncertain or mixed… We expect the MOEX Russia Index to open with marginal changes of 0.2–0.3% near a 2,470 mark,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

Following a neutral start, the benchmark may consolidate, and in the second half of the day, the local market is likely to follow the crude prices dynamics.

Olma senior analyst Anton Startsev said that the RTS index may consolidate in the short term, but the technical analysis points to a possible resumption of a downward correction.

The major U.S. stock exchanges futures and Asian floors are currently seen mixed while the Brent oil price has lost 0.4%.

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