MOSCOW, Jun 22 (PRIME) -- The Russian stock market is likely to open lower on Thursday pressured by new lows of crude prices, analysts said.
“We expect the MICEX to open (lower) at around 1,845 and believe the benchmark will be pressured by both a continuing decline in oil prices and Norilsk Nickel and Magnit trading ex-dividend,” Oleg Shagov, head of investment company Solid’s research department, said.
He also said that the August Brent oil futures have broken through a $45 per barrel mark to hit the year’s low after the U.S. said its production increased.
Olma senior analyst Anton Startsev said that the RTS index may consolidate around a 970 mark as cheap oil proves to be a constraining factor for the bulls on the local market and technical analysis says that a short-term downward trend is still in force.
The main U.S. stock indices futures are seen flat and Asian benchmarks are trading higher.
The Russian market will also be driven by decisions of annual general meetings of shareholders of oil major Rosneft, fertilizer producer Acron and container shipping company TransContainer.
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