Russian stocks to open flat amid neutral foreign background

MOSCOW, Oct 15 (PRIME) -- The Russian stock market is likely to open flat on Tuesday amid a neutral foreign environment and no evident reasons for considerable movements on the global commodity and stock exchanges, analysts said.

“We assess the external background ahead of the Russian stock market opening as neutral… An important thing is mounting sanctions pressure on Turkey… which may trigger capital outflow from emerging markets,” Vadim Kravchuk, analyst at investment company Solid, said.

U.S. President Donald Trump on Monday imposed sanctions against several Turkish ministers and departments and said he would double tariffs on the country’s steel exports to 50% to punish Turkey for its military operations in Syria.

Alexei Korenev, investment company Finam’s analyst, sees no reasons for considerable movements on the global commodity and stock exchanges and expects the Russian stock market to open calmly.

Olma senior analyst Anton Startsev said that the RTS index may consolidate lower as investors’ optimist concerning a “trade ceasefire” between the U.S. and China has decreased.

Russian traders will also follow operating results for July–September released by integrated steel producer Magnitogorsk Iron and Steel Works (MMK), steelmaker Novolipetsk Steel (NLMK) of businessman Vladimir Lisin and real estate developer PIK Group.

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