Russian stocks to open flat amid uncertain foreign background

MOSCOW, Nov 12 (PRIME) -- The Russian stock market may open flat and consolidate later on Tuesday amid a neutral external environment, analysts said.

“The external background gives no reasons for prominent movement as traders are waiting for news on the trade agreement between the U.S. and China,” Olma senior analyst Anton Startsev said.

Alor Broker analyst Alexei Antonov expects the Russian stock market to open flat and consolidate during at least the first part of the day thanks to a neutral global environment with the main U.S. benchmarks seen close to zero and the Brent crude price fluctuating slightly above the U.S. $62 per barrel mark.

Startsev said that the RTS index may also consolidate to avoid overheating following a 12% growth in the past month.

Antonov added that metals giant Norilsk Nickel may underperform in light of a fall in global nickel prices.

The market will also be driven by releases of financial reports for January–September and July–September by power companies Unipro and Mosenergo.

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