Russian stocks may open flat as oil rise no longer triggers growth

MOSCOW, Sep 6 (PRIME) -- The Russian stock market will likely open with marginal dynamics on Wednesday because a positive effect from an oil price rise on Tuesday has almost worn off, analysts said.

“Russian stocks can correct a little today after yesterday’s growth but a decrease of the RTS index will not exceed 1%,” Alor Broker analyst Kirill Yakovenko said.

Oleg Shagov, head of the investment company Solid’s research department, said that the ultimate influence of key external factors that have a significant impact on the Russian financial market is close to neutral as the Brent oil price grew to U.S. $53 per barrel but this factor was already reflected on the market on Tuesday.

U.S. stock market futures were little changed on Wednesday in the morning, Asian markets demonstrated mixed dynamics and the European premarket signaled a slightly negative opening of the session.

Olma senior analyst Anton Startsev said that the dynamics of the VIX volatility index and precious metals prices signify that investors are not ready for risks.

Shagov said that Russian investors will focus on statements to be made during the Eastern Economic Forum later on Wednesday.

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