Russian stocks may open flat on oil mkt lull ahead of OPEC meeting

MOSCOW, Nov 27 (PRIME) -- The Russian stock market is expected to open with marginal changes on Monday on the back of a standstill on the oil market caused by anticipation of a meeting between participants of the oil output reduction deal of OPEC and non-OPEC countries, later this week, analysts said.

“A halt of an increase in the RTS index is possible today at the start of the day. Investors are waiting for progress in the U.S. tax reform, this favors continuation of an upward trend on the U.S. stock market but is reducing demand on developing stock markets,” Olma senior analyst Anton Startsev said.

The oil market will most probably see no strong trends ahead of the meeting of participants of the oil output cut deal slated for Thursday, he said.

Oleg Shagov, head of investment company Solid’s research department, said that the external background for the start of the trading session is mostly neutral as oil is trading at about U.S. $63.8 per barrel, U.S. stock market futures are slightly falling, as well as the key Asian markets and the European premarket session is signaling small downward gaps later in the day.

He said that the MICEX will likely open at 2,160.

Multi-industry holding Sistema will release its financials, which is expected to become the main corporate event of Monday, Shagov said.

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