Russian stocks may fall as oil under pressure, global floors decline

MOSCOW, Jun 15 (PRIME) -- Russian stocks may decrease at the opening on Thursday amid oil prices remaining under pressure of growing U.S. production and decline on global floors, analysts said.

“We expect the Russian stock market to open at around 1,830–1,835 points at the MICEX index, assuming that this stock indicator can face a reduction of over 20% from its maximum of this year,” Oleg Shagov, head of investment company Solid’s research department, said. On Wednesday, the MICEX closed at 1,838.32.

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

Brent oil futures are fluctuating around U.S. $47 per barrel remaining under pressure after publication of growth of the U.S. oil production.

The leading U.S. stock index futures are falling, and main Asian stock indicators are mostly decreasing, Shagov said.

President Vladimir Putin will hold the Direct Line Q&A session later in the day, which can have an impact on the stock market, the analyst also said.

Olma senior analyst Anton Startsev said downward correction at the RTS index can continue on Thursday under the influence of the foreign background.

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