Russian stocks may open flat on neutral background - Financial Wire - 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

Russian stocks may open flat on neutral background

MOSCOW, Sep.10 (PRIME) -- The Russian stock market†is likely to open almost flat on Tuesday as the external background provides players with no strong signals for purchases or sales, analysts said.

УWe see the background before the start of trade on the Russian market today as neutral,Ф Vadim Kravchuk, analyst at Solid Broker, said.

U.S. stock indices fell on Monday as Treasury Secretary Steven Mnuchin said that Washington was ready to sign only a good deal with China, signaling non-readiness for trade-offs, while democrats in the U.S. Congress were preparing a new investigation to impeach U.S. President Donald Trump, Kravchuk said.

At the same time, the Brent oil price is trying to climb above the level of U.S. $63 per barrel, as the new energy minister of Saudi Arabia turned out to be a strong advocate of the oil output reduction. Iraq is also to start cutting its production more actively under the deal of OPEC and non-OPEC states, Kravhcuk added.

The Brent oil price gained 2.131% to $62.88 per barrel as of 8.35 a.m. Moscow time, according to the ICE exchange.

УThere are no significant drivers for growth or for a noticeable fall, as the positive impact of improvement in the U.S.ЦChina relations has already been priced in, while the issue of the U.S. Federal Reserve System cutting its rates was left hanging in mid-air,Ф Alor BrokerТs analyst Alexei Antonov said.

If the oil price grows to $64 and then to $67 per barrel, the inflow of money from non-residents will push the MOEX Russia Index to its all-time highs, but it is a long-term matter. The index may slightly contract at the beginning of Tuesday as investors will try to lock in their profits, but the background may improve in any moment, so investors should open shorts with caution, Antonov said.


10.09.2019 09:16
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