Russian stocks may open flat amid mixed foreign background

MOSCOW, Mar 1 (PRIME) -- Russian stocks may open flat on Tuesday amid mixed foreign background and stable oil prices, analysts said.

“We expect the Russian stock market to open neutrally at the level of 1,840 points at the MICEX, assuming that this stock indicator will fluctuate around the current levels amid mixed foreign environment,” 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 mixed today at the start of the day, under our estimates,” Shagov said.

Brent oil price is trading at around U.S. $36 per barrel, as OPEC reported a decline of oil production in February, as well as on news about an accident at Nigeria’s export oil pipeline, the analyst said.

The U.S. stock index futures are suffering small losses, while main Asian stock indicators are mostly growing.

“The technical analysis data keeps a possibility of the RTS index growth towards 800 points,” investment company Olma’s senior analyst Anton Startsev said. “The situation on the oil market remains favorable, the Chinese central bank’s stimulating measures have a bit supported traders’ optimism,” he said.

Vitaly Manzhos, a senior analyst at Bank Obrazovanie, expects the MICEX to open with a slight decrease, around 1,840 points. The nearest support levels will be 1,830 and 1,810 points, while 1,850 and 1,870 will be the resistance levels, he said. On Monday, the MICEX closed at 1,840.17.

End