Russian stocks to open with small changes, continue rebound trend

MOSCOW, Jun 9 (PRIME) -- The Russian stock market is likely to open with moderate changes and continue a rebound trend amid an unclear external background, analysts said.

“The external background is unclear in the morning and it provides for the MOEX Russia Index to open with a moderate movement. Later in the day the index is likely to continue a sideways trend,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

Yevgeny Loktyukhov, head of Promsvyazbank’s research department, believes that the foreign background is a bit negative as the Asian markets show mixed dynamics and the U.S. stock index futures are slightly falling under pressure of energy prices.

The MOEX Russia index is likely to go up into the 2,350-2,400 range, Loktyukhov said, adding that demand for the stocks of “internal sectors” is likely to revive.

Manzhos said that the Russian stock’s market grew yesterday in correction without looking at a unclear state of the foreign environment once again, with the MOEX Russia Index and the RTS index continuing a technical rebound from their minimal medium-term figures.

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