Russian stocks may open flat amid US holiday, stable oil

MOSCOW, Nov 24 (PRIME) -- Russian stocks may open neutrally on Thursday amid low investor activity due to the celebration of Thanksgiving Day in the U.S. and stable oil prices, analysts said.

“We expect the Russian stock market to open neutrally at the level of the previous close at the MICEX index (2,085.75 points), assuming that this stock indicator will be fluctuating around current levels amid low investor activity and a weak foreign background due to Thanksgiving Day in the U.S.,” Oleg Shagov, head of investment company Solid’s research department, said.

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, he said. Brent oil futures are fluctuating around U.S. $49 per barrel in anticipation of OPEC decisions to limit oil production.

The U.S. stock index futures are not changing much, while main Asian stock indicators are not showing single dynamics.

Finam analyst Timur Nigmatullin expects that the MICEX will grow by 0.5% at the opening. Among other events, investors will monitor the release of financial results by Vozrozhdenie Bank and oil major Gazprom Neft, he said.

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