Russian stocks seen flat on easing oil, ahead of US Fed meeting

MOSCOW, Dec 15 (PRIME) -- Russian stocks can open slightly lower on Wednesday following a 1% slump in crude prices, and consolidate later in the day on uncertain global environment, analysts said.

“We expect the MOEX Russia Index to fall by 0.1–0.7% at the opening… and consolidate later in the day awaiting new significant drivers for movement,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The core U.S. indices futures are rising about 0.1%, the Brent oil price has deflated by 1.1%, and Asian markets are seen almost flat, he added.

Senior analyst at Promsvyazbank Bogdan Zvarich said that Russian stocks are overbought, which can support the MOEX Russia Index, but the fall in crude prices will restrain the advance.

Global investors are waiting for decisions of a meeting of the U.S. Federal Reserve so lower volatility and consolidation are likely to be seen worldwide on Wednesday, he added.

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