Russian stocks seen flat on neutral background, volatile crude

MOSCOW, Sep 20 (PRIME) -- The Russian stock market may open flat or slightly higher on Friday thanks to a neutral foreign environment with high volatility on the crude market, analysts said.

“The external background looks neutral before the Russian stock market’s opening, and the MOEX Russia Index is expected to open flat as well. A slight rise is probable later in the day as yesterday’s fall had no sufficient reasons and investors will close short positions ahead of the weekend,” Alor Broker analyst Alexei Antonov said.

Promsvyazbank senior analyst Mikhail Poddubsky said that the global risk appetite is mixed with the major U.S. benchmarks close to their record highs, but lacking certain drivers for breaking through the levels.

Vadim Kravchuk, analyst at investment company Solid said that oil prices are still very volatile despite some stabilization of the market.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the MOEX Russia Index to rise around 0.1–0.3% to 2,800 at the opening and to continue upward correction later in the day.

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