Russian stocks seen flat as oil grows slightly, foreign mkts mixed

MOSCOW, May 18 (PRIME) -- The Russian stock market will see marginal dynamics at the opening of the trading session on Monday because oil prices rose only slightly, while foreign markets were demonstrating mixed trends, analysts said.

“The general background and the influence of the main factors on the Russian market today in the morning, as I reckon, is close to neutral. Brent prices are sticking to a U.S. $67 per barrel level. U.S. stock market futures are little changed. The key Asian indices are seeing mixed trends,” Oleg Shagov, senior analyst at investment company Solid, said.

Brent went up 0.21% to $66.95 per barrel as of 9.18 a.m., Moscow time.

Greece’s financial state is still a matter of concern for investors worldwide. Greek banks are witnessing an outflow of deposits, which raises risks for the global financial system, Olma’s senior analyst Anton Startsev said.

Investors believe that the U.S. and the Chinese central banks will hold “comfortable positions” and will continue monetary stimuli because of a visible slowdown in the economies of these two countries, Promsvyazbank’s analysts Ilya Frolov and Yevgeny Loktyukhov said.

A steep oil price growth and the Russian central bank’s steps to limit the ruble strengthening, along with generous dividends of companies and decrease of premiums for risk will shape a positive trend on the Russian market later this week, the Promsvyazbank’s analysts said.

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