Russian stocks seen flat on falling oil, vague background

MOSCOW, Mar 31 (PRIME) -- Russian stocks may open flat on Thursday amid falling oil prices and uncertain foreign background, analysts said.

“We expect the Russian stock market to open neutrally today at the level of 1,865–1,870 points at the MICEX index, assuming that this stock indicator will fluctuate around current levels amid vague foreign background,” Oleg Shagov, head of investment company Solid’s research department, said.

The influence of the key external factors that significantly affect the Russian financial market behavior is close to neutral today at the start of the day, Shagov said. Brent oil is trading at U.S. $39.6 per barrel demonstrating volatility amid expiration of May contracts and an ongoing growth of the U.S. oil reserves.

Main Asian stock indicators are not showing singe dynamics, while the U.S. stock index futures are slightly decreasing.

Denis Khripushin, analyst at 2trade.ru, expects the Russian stock market to decline up to 0.5% at the opening on decreased oil prices.

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