Russian stocks seen flat amid reduced pre-holiday activity

MOSCOW, Dec 28 (PRIME) -- Russian stocks may open neutrally or slightly grow on Thursday amid a moderately favorable background and reduced investor activity ahead of the upcoming New Year holidays, analysts said.

“We expect the Russian stock market to open around 2,105 points at the MOEX Russia Index, assuming to see further fluctuations of this stock indicator around achieved levels with attempts of pre-New Year growth amid reduced activity of market participants,” Oleg Shagov, head of the investment company Solid’s research department, said. On Wednesday, the MOEX Russia Index closed at 2,106.17.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, expects the MOEX Russia Index to grow around 0.2% to around 2,110 points at the opening.

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

Brent oil futures are fluctuating around U.S. $66.5 per barrel ahead of expiration and flow of trade activity into the March contracts and in expectation of the publication of the U.S. oil production and reserves statistics data.

The leading U.S. stock index futures are slightly growing, and main Asian stock indicators are mostly demonstrating moderate positive dynamics.

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