Russian stocks to open flat on uncertain environ, lack of drivers

MOSCOW, Jun 9 (PRIME) -- The Russian stock market may be seen flat or rise insignificantly at the opening on Tuesday as there are no evident drivers for any movement amid a neutral global environment, analysts said.

“The domestic market will open near the level of its Monday closing amid a neutral external background. Continuation of a downward trend is also likely as no growth drivers can be seen,” Alor Broker analyst Alexei Antonov said.

Antonov also expects stabilization of the crude price at the level of U.S. $40 per barrel on a lack of triggers.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, sees the MOEX Russia Index opening 0.1–0.5% higher within the 2,800–2,810 range.

Olma senior analyst Anton Startsev expects the RTS index to stop growing due to lower purchasers’ activity after a global rally.

Investors in Russia may be interested in metals giant Norilsk Nickel’s online conference to discuss the recent diesel fuel spill.

Antonov said that Norilsk Nickel will be additionally pressured by declining prices for its products, although the stock has already been oversold.

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