Russian stocks seen flat amid moderately negative background

MOSCOW, Nov 14 (PRIME) -- Russian stocks may open flat or slightly decrease on Tuesday amid a moderately negative foreign background, analysts said.

“We expect the Russian stock market to open around 2,165–2,170 points at the MICEX index, assuming that amid the current foreign background this stock indicator may continue correction that was outlined after a major growth last week,” Oleg Shagov, head of the investment company Solid’s research department, said. On Monday, the MICEX closed at 2,167.63.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, expects the MICEX to slightly decrease to 2,165 points at the opening.

The ultimate influence of key external factors that have a significant impact on the Russian financial market is moderately negative today, Shagov said.

Brent oil futures are fluctuating around U.S. $63 per barrel in expectation of publication of the U.S. oil reserves statistics data.

The leading U.S. stock index futures are suffering small losses and main Asian stock indicators are mostly demonstrating downward dynamics.

Investors will follow publication of financial results by Rosneft, MTS, Inter RAO and Acron.

Investor moods could be also affected by shares of Magnitogorsk Iron and Steel Works (MMK) and Polyus being listed in the MSCI Russia and shares of Rostelecom and global depositary receipts (GDR) of Sistema being delisted, Shagov said.

Moreover, President Vladimir Putin will visit power grid holding Rosseti and hold a meeting devoted to the development of the electric power sector.

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