Russian stocks seen flat on mixed foreign background

MOSCOW, Jul 17 (PRIME) -- Russian stocks may open neutrally on Tuesday amid a mixed foreign background, analysts said.

“We expect the MOEX Russia Index to open with an insignificant change, around the notch of 2,335 points. The levels of 2,320 and 2,310 points will act as support, and the notches of 2,350 and 2,360 points will again act as main resistance,” Vitaly Manzhos, a senior risk manager at investment company Nord Capital, said. On Monday, the MOEX Russia Index closed at 2,334.18.

The foreign background is mixed prior to the opening of the Russian market, Manzhos said. The U.S. stock index futures are balancing on the verge of positive and negative deviation. Brent oil futures added 0.3% after a major decline on Monday. Gold futures rose 0.1%. Japan’s Nikkei225 increased 0.8%, and Hong Kong’s Hang Seng lost 1.04%.

Olma senior analyst Anton Startsev said that consolidation of the Russian stock indices remains the relevant scenario. “A meeting of the Russian and U.S. presidents can be seen as a favorable factor for the market – the establishment of relations can potentially reduce the “geopolitical discount” on Russian securities. However, the very fact of the meeting has already been taken into account in the stock quotes, and the comments on its results are too general to cause a noticeable reaction on the market,” he said.

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