Russian stocks to open neutrally ahead of long holidays

MOSCOW, Jun 11 (PRIME) -- The Russian stock market will demonstrate marginal dynamics on Thursday because traders will avoid risks ahead of a three-day holiday, analysts said.

“I expect the Russian market to open in a neutral mood, and I assume that the MICEX will continue fluctuations near previous levels on the eve of the long holidays,” Oleg Shagov, head of analytical department at investment company Solid, said.

The Russian market will be closed on Friday for Russia Day celebrations.

Investors might want to take profits, which can push the market slightly down, Promsvyazbank said in a research note.

The World Bank called on the U.S. Federal Reserve System to wait with an interest rate boost, while Germany eased conditions of the bailout proposal for Greece, helping foreign stock market indices stay afloat on Wednesday afternoon, Shagov said.

But the Brent sunk 0.21% to U.S. $65.56 per barrel at 9.01 a.m., Moscow time, and U.S. stock futures fell in the morning.

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