Stocks can open flat as investors wait for cbank rate decision

MOSCOW, Jun 15 (PRIME) -- The Russian stock market will likely open with marginal changes on Friday on the back of an indeterminate external background and because investors are wary ahead of the central bank’s key rate decision, analysts said.

“The external background before the start of trade in Russia can be characterized as unclear, or close to neutral,” Vitaly Manzhos, senior risk manager at investment company Nord Capital, said.

Finam analyst Sergei Drozdov said that the central bank is to halt the reduction after the U.S. has risen the rate because narrowing of the gap between the two rates can hurt the ruble and OFZ bond quotations.

The U.S. stock market futures fell by about 0.1%, the Brent contracts lost 0.1%, the gold futures 0.3%. Japan’s Nikkei225 rose by 0.6% and Hang Seng sagged 0.4% on Friday in the morning.

Manzhos said that the MOEX Russia index will likely firm at opening at 2,255. The levels of 2,250 and 2,240 will be support and 2,270 and 2,280 will be resistance levels.

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