Russian stocks to open flat on lack of news, ahead of holidays

MOSCOW, Jun 11 (PRIME) -- The Russian stock market will remain flat at the opening of Wednesday’s session, the last trading session this week before holidays, on low trading volumes and lack of drivers, analysts said.

“No reasons for strong trends have appeared so far. Foreign factors may cause a stop of growth in the beginning of the trading session: the Chinese floors seem to be correcting downwards after the Chinese securities exclusion from the global MSCI,” Olma’s senior analyst Anton Startsev said.

The Shanghai Stock Exchange Composite went down 0.25% to 2,047.35 as of 9.12 a.m. Moscow time, and the Shenzhen CSI 300 fell 0.34% to 2,153.83 as of 9.13 a.m.

Investors will focus on the trilateral Russia–Ukraine–E.U. gas negotiations slated for 09.30 a.m. E.U. time, Promsvyazbank’s senior analyst Oleg Shagov said.

The most important macroeconomic data releases include the U.K. labor market figures and the oil and oil product stocks in the U.S., he said.

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