Russian stocks seen flat on $60 oil price, US meddling claims

MOSCOW, Oct 30 (PRIME) -- The Russian stock market will likely see a marginal dynamics at the start of the trading session on Monday as oil prices are above the U.S. $60 per barrel level but traders are waiting for a release of U.S. claims concerning presidential elections meddling, analysts said.

“A period of a certain consolidation in Russian stock market indices is possible in the short term,” Olma senior analyst Anton Startsev said.   

“Brent prices have remained above $60 per barrel, supporting Russian securities to some extent but the situation on global markets is looking uncertain: traders are waiting for presentation of the first claims concerning U.S. elections meddling (possible already today), and also for announcement of a nominee for the U.S. Federal Reserve System (Fed) Chairman post by the president (within a week),” Startsev said.

Oleg Shagov, head of investment company Solid’s research department, said, that the external background  for the start of the Russian trading session is close to neutral as the oil prices are likely to support Russian assets, while U.S. stock market futures are falling, Asian markets are mixed and the European premarket session signals a decrease later in the day.

He said that the MICEX will likely open at 2,065–2,070 and can remain close to this level.

Detsky Mir is expected to release the financials, and oil and gas pipe producer TMK will hold an investor day later on Monday, which, according to Shagov, will be the key corporate events of the day.

End