Russian stocks may sag on falling oil, negative background

MOSCOW, Jun 14 (PRIME) -- Russian stocks may ease at the opening on Tuesday pressured by falling oil prices and an overall negative foreign background, analysts said.

“We expect the Russian stock market to open with a decrease to around 1,900 at the MICEX, assuming that amid an unfavorable foreign background this stock indicator will remain under pressure of sales,” 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 moderately negative today at the beginning of the day, he said.

Brent oil futures decreased to U.S. $50 per barrel due continuing growth of a number of operating drilling rigs in the U.S. and peaceful talks in Nigeria aimed at ceasing terrorist attacks on oil infrastructure units.

The U.S. stock index futures are not changing much, while the main Asian stock indicators are mostly demonstrating negative dynamics.

“A downward correction of the RTS index may deepen today at the start of trading under the influence of foreign background,” Olma senior analyst Anton Startsev said.

The U.K.’s possible withdrawing from the E.U. has become the main risk for global investors, he said. There will probably be a lull on the currency market over the next two days ahead of results of the U.S. Federal Reserve System meeting, he also said.

Shagov said that global oil prices, the behavior of Western stocks, the ruble dynamics, and the release of economic statistics data will be the main drivers for the domestic stock market. Investors will also follow the central bank’s Chairwoman Elvira Nabiullina’s speech at the State Duma, the parliament’s lower house.

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