Russian stocks may open flat amid low oil, closed foreign floors

MOSCOW, Feb 20 (PRIME) -- Russian stocks may open neutrally on Saturday amid decreased oil prices and closed foreign stock markets, analysts said.

“We expect the Russian stock market to open neutrally at around 1,790 at the MICEX, assuming that amid vague foreign background this stock indicator will fluctuate around the current levels,” Oleg Shagov, head of investment company Solid’s research department, said.

“The influence of the key factors which significantly affect the Russian financial market behavior is close to neutral today at the start of the day, under our estimates,” Shagov said.

Brent oil prices fell to U.S. $33.1 per barrel as Saudi Arabia said it was not ready to reduce oil production, while Iran projected that current excess on the oil market will remain despite recent agreements to freeze oil output, the analyst said.

The European stock indices suffered small losses on Friday, while the U.S. stock market closed mixed. The main markets of Asia, Europe, and the U.S. are closed on Saturday.

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