Russia’s MICEX to open flat, RTS to fall on oil price slide
MOSCOW, Aug 10 (PRIME) -- Russia’s MICEX stock market index will open neutrally on Monday, while the RTS will see a decline because of oil price slide, analysts said.
“The influence of the key external factors on the Russian stock market today in the start of the day, is close to neutral under our estimates,” Oleg Shagov, senior analyst at investment company Solid, said. “I expect to see the opening of the Russian stock market at 1,690 of the MICEX and with a decrease of the RTS,” he said.
Brent fell 0.45% to U.S. $48.39 per barrel as of 8.52 a.m., Moscow time.
Gazprom’s Yuzhno-Kirinskoye shelf deposit was blacklisted by the U.S., which is also a negative factor for Russian stocks, Olma’s senior analyst Anton Startsev said.
U.S. stock market futures grew on Monday in the morning, as well as the key Asian indices, which will alleviate the downbeat mood from oil price dynamics, Vitaly Manzhos, senior analyst at Bank Obrazovanie, said.
Investors in defensive securities in the MICEX can ease the downward dynamics of the index, Promsvyazbank analyst Ilya Frolov said.
Russian traders will be waiting for statements to be made at a meeting between President Vladimir Putin and Chairwoman of the central bank Elvira Nabiullina later on Monday, Shagov said.
On the corporate stage, Magnit will publish its operating results, and Gazprom its financial report under International Financial Reporting Standards, which will also provide investors with important details, he said.
End