Russian stocks seen neutral on mixed foreign background

MOSCOW, Aug 1 (PRIME) -- The Russian stock market can open neutrally and consolidate later in the day on Monday amid a mixed global background, analysts said.

“We expect the Russian stock market to open neutrally in light of the uncertain external background... Consolidation sentiments are likely to persist on the Russian market during the day,” finance group Finam’s analyst Igor Dodonov said

“The participants will follow geopolitical news, the ruble rate dynamics, and local corporate events,” he added.

The U.S. stock indices futures are correcting down, Asian markets are demonstrating mixed dynamics, and crude prices are seen in the negative territory, Dodonov also said.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the MOEX Russia Index to open with changes of up to 1% within the range of 2,190–2,235, and to consolidate later in the day thanks to a mixed foreign environment and technical factors.

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