Russian stocks seen opening neutral amid mixed external background

MOSCOW, Jan 25 (PRIME) -- The Russian stock market is unlikely to demonstrate a directed movement at the opening on Wednesday in light of a mixed foreign background, analysts said.

“The Russian stock market is expected to open with moderate changes of up to 0.6% of the MOEX Russia Index within the range of 2,160-2,185… The benchmark is highly likely to consolidate later in the way waiting for new movement drivers,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The present global environment looks uncertain and mixed with the core U.S. indices futures falling by 0.3–0.8%, the Brent oil price adding 0.5%, Japan’s Nikkei225 index rising by 0.3% and the Chinese market remaining closed for Lunar New Year celebration, he added.

PSB Bank senior analyst Yegor Zhilnikov expects no significant changes on Russia’s forex market as well.

The ruble can weaken slightly within the range of 68.5–69.5 rubles per U.S. dollar due to lower exporters’ activity, he said.

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