Russian stocks seen flat on rising oil prices, falling US indices

MOSCOW, Jul 27 (PRIME) -- The Russian stock market can open neutrally and consolidate later in the day on Tuesday due to an uncertain foreign background, analysts said.

“We expect the MOEX Russia Index to open with moderate changes of 0.1–0.3% within the 3,740–3,760 range… The market is likely to consolidate after the neutral opening due to an uncertain foreign background, seen in the morning,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

Manzhos added that the U.S. indices futures fell 0.2%, the Brent oil price increased 0.3%, and the gold price lost 0.3%. Asian markets are seen mixed.

Alor Broker analyst Alexei Antonov said that the U.S. Federal Reserve will reveal its future monetary policy soon, so global investors can begin taking profit, which can impact the local stock market.

The Russian market will also be driven by releases of financial and operating reports for April–June by power holding Inter RAO, aluminum producer UC RUSAL, and precious metals maker Polymetal International.

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