Russian stocks to open lower on Norilsk Nickel ex-divs gap

MOSCOW, May 22 (PRIME) -- The Russian stock market will descend a little on Friday because of an ex-dividend gap of one of blue chips Norilsk Nickel, analysts said.

“I expect that the MICEX will see a small decrease at the opening of the Russian stock market trading session because of the expected ex-dividend gap in the shares of Norilsk Nickel,” Oleg Shagov, senior analyst at investment company Solid, said.

Brent fell 0.18% to U.S. $66.42 per barrel as of 9.05 a.m., Moscow time, after a surge on Thursday, this is why this factor is neutral for Russian assets on Friday, Shagov said.

Global investors are still worried over the Greek debt settlement fate. On Friday, they will expect statements made at a meeting between Greek Prime Minister Alexis Tsipras and European Commission Chairman Jean-Claude Juncker, Olma’s senior analyst Anton Startsev said.

The finish of the Uralkali buyback program will add volatility to the Russian market on Friday, Shagov said.

Investors will also wait for an announcement of dividend recommendations for Federal Grid Company of Unified Energy Systems (FGC UES) and for January–March financial result posting by Cherkizovo, Shagov said.

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