Russian stocks seen flat on Greek talks’ advances, oil price worries

MOSCOW, Jul 17 (PRIME) -- The Russian stock market may see marginal dynamics at Friday opening because the positive changes for global investors in Greece will be outweighed by the concerns that oil prices will fall on Iranian access to the global market, analysts said.

“Today, a neutral external background is being formed before the trade start,” Promsvyazbank analysts Ilya Frolov and Yevgeny Lokhtyukhov said.

Both the U.S. stock market futures and oil prices are consolidating, which will favor a neutral dynamics in Russia, the Promsvyazbank analysts said.

The advances in the Greek crisis solution and the statement by Chairman of the European Central Bank Mario Draghi, who said that the E.U. assumes in its plans that Greece will stay in the euro zone will support Russian investors, Oleg Shagov, head of analytical department at investment company Solid, said.

From the technical point of view, the MICEX is facing a resistance zone of 1,650–1,660, Shagov said.

There are still concerns that oil prices will strongly decrease after Iran reaches the global oil market, Shagov said.

In the evening, Russian investors will be focusing on the U.S. statistics. Consumer confidence index from the University of Michigan will affect the Russian market to a certain extent, Vitaly Manzhos, senior analyst at Bank Obrazovanie, said.

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