Russian stocks may decrease amid volatile oil prices

MOSCOW, Jun 30 (PRIME) -- Russian stocks may decrease at the opening on Friday on the back of volatile oil prices and overall neutral foreign background, analysts said.

“We expect the Russian stock market to open at around 1,880 points at the MICEX index, assuming that this stock indicator will continue to fluctuate around the achieved levels under the influence of changes of the foreign background and ongoing corporate events,” Oleg Shagov, head of investment company Solid’s research department, said. On Thursday, the MICEX closed at 1,881.04.

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

August Brent oil futures are fluctuating around U.S. $47.7 per barrel demonstrating excessive volatility ahead of expiration and flow of trading activity to September contracts.

The leading U.S. stock index futures are not changing much, and Asian stock indicators are mostly demonstrating negative dynamics.

The Russian stock market can be affected Friday by shareholder meetings of uncut diamond giant ALROSA, mobile operator MegaFon, oil company Bashneft, metals and mining firm Mechel, power grid holding Rosseti, and gas giant Gazprom, as well as ex-dividend date for oil major Rosneft’s shares and the Moscow Exchange’s decision on interim dividends.

Olma senior analyst said a downward correction at the RTS index is possible at the start of trading.

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