Russian stocks seen flat as investors prepare for ECB meeting

MOSCOW, Jul 20 (PRIME) -- The Russian stock market is likely to open with marginal changes on Wednesday because investors are preparing to hear statements from the next meeting of the European Central Bank (ECB) amid a lack of stimuli for strong dynamics, analysts said.

“It will be an eventless day today, which means that market participants will have some time to prepare for a meeting of the ECB,” Andrei Dirgin, head of Alfa-Forex’ analytical department, said. The meeting is scheduled for Thursday.

Oil prices are slightly increasing to U.S. $47 per barrel. U.S. stock market futures are changing slightly, Asian markets are demonstrating negative dynamics, while the European stock markets can grow, as follows from the premarket dynamics. All these factors will contribute to a neutral market opening in Russia, Oleg Shagov, head of investment company Solid’s analytical department, said.

The MICEX is expected to open at about 1,915, Shagov said. The RTS will “stay in a phase of correction/consolidation,” Anton Startsev, a senior analyst at investment company Olma, said.

Publication of operating results by O’Key and TransContainer and a conference of rating agency Moody’s can influence the dynamics of some companies’ shares and even of the entire Russian market, Shagov said.

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