Russian stocks can ease at opening on oil price decrease

MOSCOW, Apr 19 (PRIME) -- The Russian stock market is likely to edge down at Wednesday’s opening on cheaper oil and neutrality of other factors, analysts said.

“The ultimate influence of the key external factors which significantly affect the behavior of the Russian financial market is close to neutral today at the start of the day, according to our estimates,” Oleg Shagov, head of investment company Solid’s research department, said.

Bogdan Zvarich, an analyst at investment company Finam, said that the Russian market may open lower because the Brent oil price has retreated to U.S. $54.7 per barrel on the back of the American Petroleum Institute statistics.

The U.S. stock market futures are regaining losses of Tuesday evening, the Asian markets are mixed in the morning.

Shagov said that this ambivalent background means that the MICEX will open at 1,920 and fluctuate around this level later during the day.

Release of operating results by Polymetal and a decision by ALROSA’s board of directors on an annual shareholder meeting will be the most important corporate events marketwise on Wednesday, Shagov said.

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