Russian stocks may decrease amid falling oil prices

MOSCOW, Nov 5 (PRIME) -- Russian stocks may decrease or open flat on Thursday on the back of falling oil prices, analysts said.

“The opening of today’s trading session may see some minus, because traders will have to reflect a reduction of oil prices that took place on the day-off,” Olma’s senior analyst Anton Startsev said.

The Russian stock market may open flat at around 1,760 at the MICEX index, Oleg Shagov, head of the research department at investment company Solid, said, adding that he did not rule out a downward correction later after a strong growth at the start of this week. On Tuesday, the MICEX closed at 1,763.60.

Brent oil futures continue a reduction and are trading below U.S. $49 per barrel on a report of increased oil reserves in the U.S.

The influence of the key factors that significantly affect the Russian financial market is close to neutral at the start of the day. U.S. stock index futures are not changing much, while main Asian stock indicators do not demonstrate single dynamics.

Vitaly Manzhos, a senior analyst at Bank Obrazovanie, expect the MICEX to open at 1,760–1,765 points.

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