Russian stocks seen opening flat on uncertain external background

MOSCOW, Jan 11 (PRIME) -- The Russian stock market can open with marginal changes and consolidate later in the day on Wednesday in light of a mixed foreign background, analysts said.

“We expect the Russian stock market to open with changes of below 0.7% of the MOEX Russia Index, within the range of 2,145–2,175… An uncertain external background creates conditions for marginal changes of the benchmark at the opening,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

He added that the core U.S. indices futures are rising by up to 0.15%, the Brent oil price has lost 0.6%, and gold has added 0.6%. The Asian bourses are trading in the positive territory.

PSB Bank analysts expect the MOEX Russia Index to consolidate within the range of 2,150–2,170 during the day with oil major Rosneft’s ex-dividend dynamics being the main negative factor for the benchmark.

PSB Bank senior analyst Yegor Zhilnikov said that the ruble is seen consolidating around the 69.8 rubles per U.S. dollar mark and has a potential to strengthen to 68 rubles per U.S. dollar soon.

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