Russian stocks seen flat on decreased oil, mixed background
MOSCOW, Apr 14 (PRIME) -- Russian stocks may open flat or slightly decrease on Thursday amid mixed foreign background and oil prices falling below U.S. $44 per barrel, analysts said.
“We expect the Russian stock market to open neutrally at the level of 1,930–1,935 points at the MICEX index, assuming that amid vague foreign background this stock indicator will monitor its movements and react to ongoing events,” Oleg Shagov, head of investment company Solid’s research department, said.
Global oil price dynamics, the Western stock indicators’ behavior, as well as the ruble rate dynamics and macroeconomic statistics will be the main factors influencing the MICEX during the day, the analyst said.
The influence of the key external factors that significantly affect the Russian financial market behavior is mixed today at the start of the day, Shagov said. Brent oil price has fallen below $44 per barrel reacting to a significant increase in the U.S.’ oil reserves.
The U.S.’ stock index futures are slightly falling on Thursday morning, while main Asian stock indicators are mostly demonstrating positive dynamics.
Investors will follow Russian President Vladimir Putin’s live Q&A session later in the day, Shagov said.
Vitaly Manzhos, a senior analyst at Bank Obrazovanie, expects the MICEX to fall around 0.3% to around 1,925 at the opening.
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