Russian stocks seen neutral on Trump sanctions comment

MOSCOW, Sep 19 (PRIME) -- The Russian stock market will likely open with a marginal dynamics on Wednesday, as the market is supported by a comment by U.S. President Donald Trump about an absence of plans to slap sanctions on Nord Stream-2, but the interest to risky assets is weak, analysts said.

“A statement by President Donald Trump about an absence of plans to slap sanctions on the companies participating in construction of the Nord Stream-2 pipeline is favorable information for the Russian market,” Anton Startsev, a senior analyst at investment company Olma, said.

“At the same time, return of investors to developing markets might turn out to be an unstable process: growth of U.S. interest rates may be a potential threat (the 10-year Treasuries yield exceeded 3% annually yesterday),” Startsev said.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, said that the external background for the start of the Russian trading session is neutral as U.S. stock market futures are flat, Brent lost about 0.1%, gold futures grew 0.4%, and key Asian stock market indices increased.

The MOEX Russia Index will likely open with a 0.1–0.3% gap, which could be either upward or downward, close to the level of 2,400. The levels of 2,390 and 2,380 are the support ones and of 2,410–2,420 the resistance ones. Startsev said that the RTS can continue to rise.

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