Russian stocks may decrease pressured by falling oil prices

MOSCOW, Dec 7 (PRIME) -- Russian stocks may moderately decrease at the opening on Wednesday on the back of falling oil prices and a quite neutral foreign background, analysts said.

“We expect the market to open with a moderate decrease of around 0.2–0.3% at the MICEX index, around 2,145–2,150,” Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said. The nearest support levels will be 2,140 and 2,130, while 2,160 and 2,180 will act as resistance.

Finam analyst Timur Nigmatullin projects that the MICEX will drop by 0.5% in the first half of the day.

Olma senior analyst Anton Startsev said “the RTS index could remain in the phase of correction-consolidation at the start of trading today due to uncertainty of oil price dynamics (Brent oil futures remain below U.S. $54 per barrel).”

The ultimate influence of key external factors that have an impact on the Russian financial market is close to neutral at the beginning of the day, Oleg Shagov, head of investment company Solid’s research department, said. Brent oil futures decreased on the U.S. Energy Information Administration’s (EIA) increased forecasts for oil production.

The U.S. stock index futures are not changing much, while main Asian stock indicators are mostly demonstrating positive dynamics.

Investors will follow publication of national top lender Sberbank’s financial results for January–November, among other corporate events.

End