Russian stocks seen flat, mixed due to uncertain background

MOSCOW, Jan 26 (PRIME) -- The Russian stock market may open flat and trade mixed during the day on Friday due to an uncertain foreign environment, analysts said.

“The external background is mixed… We expect the MOEX Russia Index to open flat on the previous day’s closing and believe that the benchmark may try to hit a new all-time record in line with its medium-term upward trend,” Oleg Shagov, head of investment company Solid’s research department, said.

Olma senior analyst Anton Startsev said that the RTS is likely to be restrained by the global background.

Shagov added that the Brent oil price is consolidating over a $70 per barrel mark waiting for the U.S. drilling statistics and that markets in the Unites States and Europe tend to demonstrate positive dynamics, while Asian stock exchanges look mixed.

Investors may also follow publication of financial results for 2017 by retailer Magnit and operating results for October-December and 2017 by diamond miner ALROSA, retailer O’Key and meat producer Cherkizovo among other corporate events.

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