Russian stocks to slide unable to continue growth on mixed news

MOSCOW, Aug 18 (PRIME) -- At Monday’s opening the Russian stock market will see a slight downward correction to a growth on August 15 because a neutral foreign background does not give it enough stimuli to increase, analysts said.

“We expect to see a slight MICEX fall at the start of the Russian trading session and assume that we will see it moving around its 200-day Exponential Moving Average (EMA). The psychological threshold of 1,400 for MICEX is its support level now,” Oleg Shagov, senior analyst at Promsvyazbank, said.

There are no reasons for high activity of market participants because the foreign background is neutral, and the stock market will see a standstill, Anton Startsev, Olma’s senior analyst, said.

Brent oil fell 0.72% to U.S. $102.78 as of 9.09 a.m. Moscow time, while U.S. indices’ futures were going up, which provides Russian traders with mixed signals, Shagov said.

The Ukrainian factor, the troubles with customs clearance of the Russian humanitarian aid and the E.U. firm decision to maintain sanctions against Moscow despite large losses they will cause to local producers, still weigh upon the Russian market and may shape a correction after last week’s growth, Moscow Securities Center analyst, Anna Linevskaya said.

Euro zone’s trade surplus for June and the index of the U.S. National Association of Home Builders for August will be the most important releases for investors, Shagov said.

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