Russian stocks may open flat on lack of strong drivers

MOSCOW, Oct 11 (PRIME) -- Russian stocks may open flat on Tuesday amid neutral background and a lack of strong drivers, analysts said.

“We expect the Russian stock market top open around the ‘psychological’ level of 2,000 points at the MICEX index,” Oleg Shagov, head of investment company Solid’s research department, said, adding that the intraday dynamics will depend on oil prices, the ruble rate, and behavior on Western floors.

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 maintaining around U.S. $53 per barrel on expectations that Russia will join measures to limit oil production that are being prepared by OPEC.

The U.S. stock index futures are suffering moderate losses, while main Asian stock indicators are not showing single dynamics.

Vitaly Manzhos, a senior analyst at Bank Obrazovanie, expects the MICEX to decrease around 0.3% to 1,995 points at the opening. The nearest support levels will be 1,990 and 1,980, while 2,010 and 2,025 will be resistance zones, he said.

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