Russian stocks seen mixed on good news from China, low oil price

MOSCOW, Oct 19 (PRIME) -- The Russian stock market will likely open mixed on Friday as the RTS and the MOEX Russia Index will be influenced differently by an oil price fall below U.S. $80 and a calmer external background, analysts said.

“Suspension of a downward correction of the RTS index is possible today at the start of the day. Comments by the Chinese regulators gave us the reasons to wait for liquidity support measures, which triggered an upturn of the Chinese stock market indices and can provoke closure of speculative short positions on other developing markets as well,” Olma’s senior analyst Anton Startsev said.

He said that high volatility of developing markets’ indices signals that a possible upward trend in Russia will most probably unstable.

Grigory Vashchenko, head of the department for operations at the Russian stock market in investment company Freedom Finance, said that the Russian market will likely open mixed because oil is trading below $80 per barrel, and the external background is mostly negative.

The MOEX Russia Index trade range estimate is 2,340–2,460, he said.

Vashchenko said that Russian investors will be waiting for a financial report by Severstal for July–September.

Lukoil’s board of directors may consider the sale of energy assets, which can influence the company’s stock price, he said.

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