Russian stocks may open flat on mixed external background

MOSCOW, Dec 1 (PRIME) – The Russian stocks are likely to open unchanged on Tuesday as the external background sends mixed signals with falling oil prices and rising foreign bourses, analysts said.

“Consolidation of the RTS Index may continue in the short-term. While the business activity data in the Asian countries have spurred up the global stock markets this morning, the energy market is still unfavorable after a delay of the OPEC+ negotiations to Thursday from Tuesday,” investment company Olma’s senior analyst Anton Startsev said.

The U.S. and European stock indices closed lower on Monday, while the futures for the U.S. indices and the Asian floors rose on Tuesday morning, Startsev said.

“Yesterday, the OPEC states considered an oil output rise for the beginning of next year. The OPEC+ meeting was to be held today, but media reported that it was delayed for Thursday,” Alor Broker senior analyst Alexei Antonov said.

“This means there are disagreements in the expanded cartel over the quotas for the first quarter (of 2021). This is an obvious negative signal for oil. … That is why it is still dangerous to buy shares of oil companies.”

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