Russian stocks to open flat as mkt waits for fate of aid to Greece

MOSCOW, Jun 9 (PRIME) -- The Russian stock market will open neutrally on Tuesday as investors are cautious ahead of new talks on financial aid to Greece, while the traditional key factors, like oil prices and the dynamics at foreign floors are mixed, analysts said.

“I expect the Russian stock market to see insignificant changes of the MICEX index at the opening and I am waiting for the continuation of volatility close to the earlier MICEX ranges,” Oleg Shagov, head of analytical department at investment company Solid, said.

The MICEX may fall to 1,630-1,640, where it will meet the support level, Promsvyazbank said in a research note. The RTS will continue its correction, trying to consolidate, Olma’s senior analyst Anton Startsev said.

Investors are waiting for news on financial aid to Greece and for statements after a meeting between the Greek prime minister with leaders of Germany and France on Wednesday, Startsev said.

The situation in the east of Ukraine is dire, with fights occurring in the city of Maryinka, which adds uncertainty to the market, Shagov said. But recent G7 meeting statements regarding future sanctions against Russia did not surprise investors, he said.

The Russian trading session’s dynamics will be influenced by the euro zone’s gross domestic product (GDP) figures release and by the ruble rate trends, Promsvyazbank said.

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