Stocks to open flat as oil price neutralizes bad environment - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Stocks to open flat as oil price neutralizes bad environment

MOSCOW, Aug 22 (PRIME) -- Russian stocks are likely to open in a neutral way on Wednesday as high oil prices should compensate the negative impact coming from the external background, analysts said.

УFrom the point of view of technical analysts, the consolidation figure for the RTS Index with the lower range close to 1,050 is still present, and we see no drivers that may end consolidation,Ф Anton Startsev, a senior analyst at investment company Olma, said.

Demand at foreign floors may experience a short-term pressure due to political uncertainty in the U.S. after former presidential lawyer Michael Cohen plead guilty of violation of federal laws on orders from U.S. President Donald Trump, and former TrumpТs campaign chairman Paul Manafort was found guilty of bank and tax fraud, he said.

УAt the same time, the negative impact of the external background will be partially compensated by relatively favorable dynamics of oil prices,Ф Startsev said.

Mikhail Poddubsky, a senior analyst at Promsvyazbank, said that Russian stocks received mixed signals early in the day. УOn the one hand, the situation in Turkey has temporarily stabilized, the U.S. and China will have a new round of negotiationsЕand the U.S. indices are consolidating around their historic highs,Ф he said. УOn the other hand, new risks may emerge very soon.Ф

Poddubsky quoted a slight increase of political risks due to the unsolved trade disputes of the U.S. with China and the E.U.

УWe think that the MOEX Russia Index may test the upper mark of the 2,250Ц2,300 range today. The currency rates and commodities support shares of commodity companies,Ф Poddubsky said.


22.08.2018 09:43
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 69.4191 +0.6486 22 feb
USD 64.3008 +0.5595 22 feb
Stock Market Indices
1D 1W 1M 1Y
rtsi 1524.71 -0.72 18:50 21 feb
micex 3106.03 -0.61 18:50 21 feb
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 232.74 -0.79 18:19 21 feb
lkoh 6483.50 -0.92 18:19 21 feb
rosn 463.00 -1.57 18:19 21 feb
sber 251.02 +0.35 18:19 21 feb
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 69.6750 +0.8450 14:59 21 feb
USDTD 64.5000 +0.5975 17:44 21 feb