Russian stocks may fall as oil price slides below $40/bbl

MOSCOW, Mar 15 (PRIME) -- Russian stocks may open flat or decrease at the opening on Tuesday amid oil prices falling back below U.S. $40 per barrel, analysts said.

“We expect the Russian stock market to open at the level of MICEX’s close at the end of last trading session, 1,865 points, assuming that amid beginning expiration of contracts on the futures market the stock market can demonstrate increased volatility,” Oleg Shagov, head of investment company Solid’s research department, said.

The influence of the key factors that significantly affect the Russian financial market behavior is moderately negative today at the start of the day, Shagov said.

“Brent fell below the psychological level of $40 per barrel on the back of reports that a meeting of oil producing countries on an oil output freeze could be postponed from March to April,” he said.

The U.S. leading stock index futures are suffering small losses, and main Asian stock indicators are mostly demonstrating negative dynamics.

“A downward correction of the RTS is possible today at the start of trade amid negative factors,” Olma senior analyst Anton Startsev said.

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