Russian stocks may open flat on stable oil, neutral background

MOSCOW, Apr 26 (PRIME) -- Russian stocks may open flat on Tuesday on the back of stable oil price and overall neutral background, analysts said.

“We expect the Russian stock market to open neutrally near the level of Monday’s close at the MICEX (1,955.47), assuming that amid a neutral background this stock indicator will continue consolidating around current levels reacting with bursts of activity to ongoing events,” Oleg Shagov, head of investment company Solid’s analytical department, said.

The influence of the key factors that have a significant impact on the behavior of the Russian stock market is close to neutral today at the beginning of the day, Shagov said. Brent oil price remains slightly below the level of U.S. $45 per barrel on the back of a projected growth of the U.S. oil reserves and oversupply on the oil market.

The U.S. leading stock index futures are slightly changing, while main Asian stock indicators are demonstrating mostly negative dynamics.

Vitaly Manzhos, a senior analyst at Bank Obrazovanie, expects the market to open at around 1,955 points at the MICEX. The next support levels will be 1,950 and 1,930, while 1,970 and 1,980 will be the resistant zones.

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