Russian stocks to open, trade with no significant movements

MOSCOW, Aug 4 (PRIME) -- The Russian stock market may open with insignificant changes and consolidate later in the day on Tuesday amid global uncertainty, analysts said.

“We expect mixed dynamics (on the Russian stock market). Results of (power company) Enel Russia will be in focus on the local market… The forecast for the MOEX Russia Index is 2,850–2,900,” Georgy Vashchenko, head of investment company Freedom Finance’s department for trade operations on the Russian stock market said.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the MOEX Russia Index to open with marginal changes of 0.2–0.4%, and consolidate later in the day thanks to a mixed foreign background.

Olma senior analyst Anton Startsev said that signs of demand recovery on the emerging markets point to the possibility of a rise in the RTS index at the beginning of the trading session although it is early to speak about a sustainable rise due to macroeconomic uncertainty.

Local investors may track news from the annual meeting of shareholders of Qiwi Group, comprising payment system operator Qiwi and Qiwi Bank, among other corporate events.

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