Russian stocks may open flat prior to Christmas holidays

MOSCOW, Dec 19 (PRIME) -- The Russian stock market is likely to open flat and consolidate at the current levels during the day on Tuesday following flat dynamics of global markets ahead of the Christmas holidays, analysts said.

“The ultimate influence of key external factors that have a significant impact on the Russian financial market is close to neutral today,” Oleg Shagov, head of investment company Solid’s research department, said.

The Brent oil price is fluctuating slightly higher at $63.5 per barrel ahead of a statistics release, which is expected to demonstrate a decline in the U.S. crude inventories.

The major U.S. and Asian markets look flat and mixed, and the European premarket trading points to a flat start of trade, too. Western markets are likely to hibernate ahead of the Christmas holidays, Shagov said.

He added that the MOEX Russia Index is to open flat within a 2,130–2,135 range and to consolidate during the day.

Olma senior analyst Anton Startsev said that the RTS index will continue consolidation near a 1,150 mark.

In Russia, investors may be interested in decisions of oil major Rosneft’s board of directors discussing results for 2017, an investment program and a budget for 2018, and forecasts until 2020, as well as in RusHydro’s investor day.

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