Russian stocks seen flat on high oil price, rising US bond yields
MOSCOW, May 18 (PRIME) -- The Russian stock market can open almost neutrally and trade with mixed dynamics on Friday as oil prices remain high but the U.S. fixed income market yields grow to divert investors from the emerging markets, analysts said.
УIn spite of continuation of a favorable oil market dynamics, signs of cooling on the Russian stock market have emerged due to an increase of the premium wanted by investors in emerging market securities in general on the back of a rise of the U.S. fixed income market yields,Ф Olma senior analyst Anton Startsev said.
He said that oil prices remain high enough to support the Russian assets.
According to Startsev, the RTS can consolidate between 1,170 and 1,200.
Georgy Vashchenko, director of operations on the Russian stock market at investment company Freedom Finance, said that the MOEX Russia Index range estimate is 2,300Ц2,330.
The analyst said he expects mixed dynamics at the start of trade.
Oil prices and reports by Mosenergo and the Moscow Exchange will be in the focus of investorsТ attention.