Russian stocks to open flat on mixed external background

MOSCOW, May 12 (PRIME) -- The Russian stock market may open with moderate changes and consolidate later in the day on Tuesday thanks to an uncertain external background, analysts said.

“We expect the MOEX Russia Index to open with a moderate change of 0.5% within the 2,630–2,655 range… The index is highly likely to consolidate later in the day thanks to a mixed foreign background seen in the morning,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The U.S. stock futures are falling by up to 0.4%, the Brent oil price is seen 0.5% higher, and Asian markets are trading mixed, he added.

Olma senior analyst Anton Startsev said that the RTS index may correct downwards following global benchmarks.

Investors will also follow publication of diamond miner ALROSA’s and meat producer Cherkizovo Group’s operating results for April among other corporate events.

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