Russian stocks to open flat on mixed environ, crude price dynamics

MOSCOW, Dec 17 (PRIME) -- The Russian stock market is likely to open flat and consolidate during the day on Monday due to a mixed global background, analysts said.

“We expect the MOEX Russia Index to open neutrally with a moderate move of around 0.3% within a 2,360–2,370 range… The benchmark may turn into consolidation later in the day thanks to an uncertain external background,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The U.S. indices futures and Asian markets are seen higher, and the Brent oil price is trading flat, Manzhos added.

Promsvyazbank analyst Mikhail Poddubsky expects the MOEX Russia Index to fluctuate within a 2,350–2,400 range in the short term.

Olma senior analyst Anton Startsev said that the downward correction of the RTS Index is likely to finish thanks to a more stable situation on the global markets, but it is premature to speak about sustainable growth.

In Russia, investors may also be interested in the decision on dividends for January–September by shareholders of largest children goods retailer Detsky Mir.

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