Russian stocks to open neutrally ahead of Greek debt talks

MOSCOW, Jun 25 (PRIME) -- Russian stocks are likely to open close to neutral on Thursday as investors are wary ahead Greece’s debt talks, analysts said.

“We expect the market to open with insignificant changes close to a1,650 point mark of the MICEX index…The MICEX is likely to remain flat after the trading’s start waiting for important news. A possible agreement between Greece and its creditors will be in the spotlight today,” Vitaly Manzhos, senior analyst at Bank Obrazovanie, said.

During the day, the Greek debt should be first discussed by E.U. finance ministers and then by the union member countries’ leaders. On Wednesday, representatives for the Greek government could not reach any kind of compromise with the Eurozone’s finance ministers.

“The opening of the Russian stock market is likely to be neutral today, and we expect the MICEX index to remain close to flat during the day waiting for corporate news, dividend cutoffs and a solution of the situation in Greece,” Oleg Shagov, senior analyst at investment company Solid, said.

Considering the dynamics of negotiations, the Greek problem may be unresolved until the farthest deadline of June 30, Finam’s analyst Timur Nigmatullin said.

The general background prior to the start of the trading session is mixed with U.S. stock index futures slightly rising, Asian floors showing mostly negative dynamics and the Brent oil price staying virtually flat losing only 0.03% to U.S. $63.47 per barrel as of 8.49 a.m. Moscow time.

Investors will also closely watch the release U.S. macro-statistics, including jobless claims.

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