Russian stocks may open flat amid stable oil, neutral background

MOSCOW, Jun 2 (PRIME) -- Russian stocks may open flat or with a slight increase of the MICEX index on Tuesday amid neutral external background and oil prices maintaining the level of U.S. $65 per barrel, analysts said.

“An absence of a significant dynamics of U.S. stock index futures, a slightly negative dynamics on Asian floors, and consolidation of Brent oil prices at the level of $65 per barrel contribute to opening of the session on the Moscow Exchange in a neutral zone,” Promsvyazbank analysts Ilya Frolov and Yevgeny Lokhtyukhov said in a research note.

“Under our estimates, the general background and influence of the main factors on the Russian market is close to neutral today in the morning,” Oleg Shagov, senior analyst at investment company Solid, said.

U.S. stock index futures are changing a little, leading Asian stock indices are mainly slightly decreasing, the analyst said.

“We expect the Russian stock market to open with a slight increase of the MICEX index, but do not rule out that with worsening of the external background this stock indicator may resume reduction and later test the support zone of around 1,600 points for resistance,” Shagov said.

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