Russian stocks seen neutral amid uncertain global environment

MOSCOW, Jan 12 (PRIME) -- The Russian stock market may open with marginal changes and consolidate later in the day on Tuesday amid a vague external environment, analysts said.

“We expect the MOEX Russia Index to open with moderate changes of 0.1–0.3% within the 3,470–3,490 range… The benchmark is likely to consolidate later in the day thanks to an uncertain external background,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The key U.S. indices futures and Japan’s Nikkei225 index are seen flat, the Brent oil price fell around 0.1%, and China’s Shanghai Composite is trading 0.8% higher, he added.

Alor Broker analyst Alexei Antonov said that the MOEX Russia Index looks technically overbought so correction may follow. Besides, the index has not yet covered all sanctions risks linked to the upcoming inauguration of U.S. President-elect Joe Biden.

Olma senior analyst Anton Startsev said that the RTS index may consolidate within the 1,450–1,470 range in the short term.

End