Russia stocks seen flat on stable oil, ahead of Fed meeting

MOSCOW, Oct 31 (PRIME) -- Russian stocks may open flat or slightly grow on Tuesday amid a lack of strong drivers, stable oil and ahead of the Fed meeting, analysts said.

“We expect the Russian stock market to open around 2,065–2,070 points at the MICEX index, assuming to see its further fluctuations around achieved levels under the influence of ongoing changes of the foreign background,” Oleg Shagov, head of the investment company Solid’s research department, said. On Monday, the MICEX closed at 2,065.25.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, expects the MICEX to open with an insignificant change around 2,065 points.

Investor activity could be lowered ahead of results of a 2-day meeting of the U.S. Federal Reserve System (Fed) that starts on Tuesday.

The ultimate influence of key external factors that have a significant impact on the Russian financial market is close to neutral today, Shagov said.

Brent oil futures are fluctuating around U.S. $60.4 per barrel in expectation of publication of the U.S. oil reserves statistics data.

The leading U.S. stock index futures are slightly growing and main Asian stock indicators are not showing single dynamics.

Investors will follow publication of hydropower giant RusHydro’s financial results, among other corporate events.

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