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MOSCOW, Apr 12 (PRIME) -- The Russian stock market will likely open unchanged on Friday because growing oil prices will be offset by a lackluster trading in the U.S. ahead of the start of the reporting season, analysts said. “The Russian stock market followed a (downward) correction scenario yesterday, and the Moscow Exchange Index fell by a little more than 1%, returning to 2,550. We think that the minimum correction goals have been achieved, and local overheating was at least partially removed,” Mikhail Poddubsky, chief analyst at Promsvyazbank, said. “We see the external conditions for market opening as mostly neutral, therefore we expect consolidation of the index close to the current level today in the basic scenario.” Alexei Antonov, analyst at Alor Broker, said that oil, which is rising from U.S. $70.5 per barrel, can support the Russian market to a certain extent. The U.S. stock market indices closed Thursday’s session with marginal dynamics. … [Read more...] about Stocks to open flat on firming oil prices, start of US reporting

MOSCOW, Mar 28 (PRIME) -- Russian stocks are likely to shrink at opening on Thursday as concerns over condition of the international economy undermine investor willingness to take risks, analysts said. “We expect the MOEX Russia Index to open with a moderate decrease within 0.2–0.4% around 2,480. The levels of 2,470 and 2,460 will act as the closest support, while the levels of 2,500 and 2,510 will become the resistance,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said. The background for the Russian stock market is negative as the U.S. stock index futures fell by 0.3%, the Brent oil price lost 0.3%, Japan’s Nikkei225 contracted by 1.5%, and Hong Kong’s Hang Seng fell by 0.1%, Manzhos said. Mikhail Poddubsky, chief analyst at Promsvyazbank, said that risk appetite remains relatively low among global players. One of the key topics at international markets is the debt market. Yield on U.S. 10-year treasuries fell to 2.35%, the … [Read more...] about Russian stocks expected to fall at opening on global economy woes

MOSCOW, Mar 20 (PRIME) -- The Russian stock market may open flat and consolidate later on Wednesday due to a mixed global environment with investors careful prior to a meeting of the U.S. Federal Reserve’s open market committee, analysts said. “We expect the MOEX Russia Index to open with marginal changes of 0.1–0.3% within a 2,485–2,500 range… and to consolidate later in the day… Publication of an oil inventories report by the U.S. Department of Energy at 5:30 p.m. Moscow time may influence the local benchmarks considerably,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said. Vadim Kravchuk, analyst at investment company Solid, said that the external background is neutral with lower trade volume ahead of the upcoming meeting of the U.S. Federal Reserve’s open market committee. Investors are sure that the key interest rate will remain unchanged, but the authority’s comments may be surprising. The main … [Read more...] about Russian stocks may open flat due to mixed drivers

MOSCOW, Mar 15 (PRIME) -- The Russian stock market will likely edge up at opening on Friday following the trend of foreign markets that were supported by progress in trade negotiations between the U.S. and China, analysts said. “The state of the external background before the start of trade in Russia can be characterized as weakly positive. This creates conditions for an insignificant growth at the opening of the local stock market,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said. According to Bloomberg, a meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping to sign a trade deal will most probably be held no earlier than April. The information was later confirmed by U.S. Treasury Secretary Steven Mnuchin. According to Mikhail Poddubsky, senior analyst at Promsvyazbank, the postponement did not make investors nervous because no new duties are likely to be introduced during the period, and there is progress in … [Read more...] about Russian stocks can firm at opening on US–China talks’ progress