Russia’s MICEX may rise on oil price growth, RTS seen flat

MOSCOW, Jul 18 (PRIME) -- Russia’s MICEX stock market index will likely increase on Monday at the trading session’s opening due to an oil price growth but the RTS may consolidate on the back of uncertainty surrounding a coup attempt in Turkey, analysts said.

“The ultimate influence of external factors that have a significant impact on the behavior of the Russian stock market has been moderately positive today in the start of the day. Brent futures are rising to U.S. $48 per barrel in the context of worries over the black gold supply stability due to destabilization of the situation in Turkey, which hosts several important oil traffic routes,” Oleg Shagov, head of investment company Solid’s analytical department, said.

The RTS may consolidate because the activity of investors will be low due to the events in Turkey, they will not flee from risks though, Anton Startsev, a senior analyst at investment company Olma, said.

The MICEX may open at about 1,940 and may try to break a 1,950 resistance zone later in the day if the situation is favorable, Shagov said.

Ex-dividend gaps of diamond miner ALROSA and Russian Grids will have a small negative influence on the Russian market due to the low weight of these securities in indices, he said.

Operating results of retailer M. Video and develop PIK Group will be really important for investors in the securities of these companies and can influence the market in general, Shagov said.

Financial reports from abroad will be somewhat important too with a highlight on a report by Bank of America slated for release for 1:45 p.m. Moscow time, Startsev said.

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