Russian stocks seen opening flat on neutral background

MOSCOW, Jul 2 (PRIME) -- Russian stocks are likely to open flat on Tuesday as the background provides the market with no strong drivers, analysts said.

“We expect the MOEX Russia Index to open with an insignificant change within 0.1–0.3% close to 2,800. The levels of 2,790 and 2,780 will act as the closest support, while the levels of 2,810 and 2,820 will become the resistance. After a neutral start of the day, the MOEX Russia Index may drift into consolidation, as the unclear external background this morning supports that,” Vitaly Manzhos, senior risk manager at Algo Capital, said.

Futures for the U.S. stock indices firmed by 0.1%, the change in the Brent oil price is close to zero, China’s Shanghai Composite fell by 0.3%, while Japans’ Nikkei225 added 0.1%, Manzhos said.

Investment company Solid said in a research note that the return of the U.S. and China to trade negotiations supported all risky assets on Monday, but now the external bourses are in a slight correction following the strong growth.

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