Russian stocks may go down on decreasing oil prices

MOSCOW, Jul 13 (PRIME) -- The Russian stock market may on Monday at the start of the trading session on the back of a strong slide in oil prices, analysts said.

“The influence of the key external factors on the Russian stock market is moderately negative today in the beginning of the day, under my estimates,” Oleg Shagov, senior analyst at investment company Solid, said.

Oil prices dropped 2.11% to U.S. $57.49 per barrel at 8.49 a.m. Moscow time on the back of unofficial information that negotiators on the Iranian nuclear program will soon sign a deal, lifting sanctions against the country, which can potentially flood the global market with Iranian oil, Shagov said.

U.S. stock market futures fell on Monday morning, which is also a negative factor for Russian stocks.

The MICEX may open with a neutral dynamics, and the RTS may demonstrate a quite pronounced negative dynamics, it can lose up to 1.5%, Vasily Oleinik, an analyst at ITInvest, said.

Investors expect to see the end of the Greek debt negotiations, and statements from Europe are likely to become the main Monday’s event, Vitaly Manzhos, senior analyst at Bank Obrazovanie, said.

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