Stocks to open flat as investors wait for Russia-US summit

MOSCOW, Jul 13 (PRIME) -- The Russian stock market will likely open neutrally on Friday ahead of a meeting between President Vladimir Putin and his U.S. counterpart Donald Trump on July 16, analysts said.

“Market participants are waiting for a meeting between the Russian and U.S. leaders on Monday (July 16) and will probably not be very active now,” Anton Startsev, a senior analyst at investment company Olma, said.

Anna Bodrova, senior analyst at Alpari, said that the Friday’s trading session will probably be eventless as market participants need to take care of their portfolios after a volatile week.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, said that investors are also waiting for statements about the future of Russian gas pipeline exports to Europe because Trump and Putin will certainly discuss it. The U.S. can impose sanctions on the companies cooperating with the Russian project Nord Stream-2.

Manzhos said that the MOEX Russia Index can rise by about 0.3% and open at about 2,330. The levels of 2,310 and 2,300 will be support and 2,340 and 2,350 resistance.

Startsev said that the RTS will likely consolidate below 1,200 in the short term.

Finam analyst Sergei Drozdov said that later in the day, market participants will be waiting for release of statistics by oil and gas service company Baker Hughes.

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