Russian stocks to open mixed on Greek progress, low oil price

MOSCOW, Jul 23 (PRIME) -- Russian stocks are likely to open mixed on Thursday as the Greek parliament’s adaptation of measures necessary for the E.U. financial aid will be balanced by a low oil price, analysts said.

“Today at the start of trading a slight increase is possible. The Greek parliament has approved a second package of measures needed to receive financial aid from the Eurozone, and the European Central Bank has increased limits of emergency liquidity provided to Greek banks,” Olma’s senior analyst Anton Startsev said.

But the situation on the energy market is still unclear and is a potential risk source for investment in Russia’s blue chips. The restart of the downward correction of the RTS index still possible, and the ruble may decrease at the start of trading, Startsev added.

“Russia’s ruble-denominated MICEX index may begin the day with a slight increase of 0.2%, while the U.S. dollar–denominated RTS index may open in the red zone, but quickly regain its positions,” Vasily Oleinink, analyst at ITInvest, said.

The general background prior to the opening of the trading session is mixed, as the Brent oil price lost just 0.04% to U.S. $56.11 per barrel as of 8.12 a.m. Moscow time, U.S. stock index futures are rising retracting from yesterday’s losses and leading Asian floors are showing no unified dynamics.

During the day, investors will focus on the U.S. jobless claims data.

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