Falling oil prices may push Russian stocks down at opening

MOSCOW, Apr 4 (PRIME) -- Russian stocks may decrease at the opening on Tuesday amid a mixed foreign background and oil prices falling below U.S. $53 per barrel, analysts said.

“Correction on the energy market, where Brent oil futures… fell below the notch of $53 per barrel, will be a negative factor for our stocks,” Finam analyst Bogdan Zvarich said.

The situation on Asian floors, where Japan’s Nikkei225 is losing 1%, can also affect the Russian stock market, he said.

The U.S. stock index futures are losing around 0.2%.

“In our view, the negative component of the foreign background will outweigh, and as a result sales of Russian shares will prevail, which will lead to a negative opening of our market,” Zvarich said.

Oil prices may make an attempt to rebound ahead of the publication of the U.S. oil reserves data, he said.

Oleg Shagov, head of investment company Solid’s research department, said he expects “the Russian stock market to open at the level of 2,005–2,010 at the MICEX index, assuming that it will continue fluctuating around current levels under the influence of the foreign background changes and ongoing events.” On Monday, the MICEX closed at 2,008.61.

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