Russian stocks seen flat on high oil price, shaky foreign markets

MOSCOW, Feb 2 (PRIME) -- The Russian stock market will likely open with neutral dynamics on Friday because oil prices are supporting investors’ interest while uncertainty on foreign stock markets does not allow the positive trend to develop, analysts said.

“We do not expect noticeable growth of Russian stock market indices today. While oil prices remain high enough to support interest by investors in Russian securities, the situation on global stock markets looks increasingly shaky,” Olma senior analyst Anton Startsev said.

He said that Western traders are afraid that a rising yield on the U.S. debt will negatively affect stock markets.

Oleg Shagov, head of the investment company Solid’s research department, said that the external background for the start of the Russian trading session is neutral as the U.S. stock market futures show mixed dynamics, Asian markets are mainly falling and the European premarket session also signals mixed trends.

The MOEX Russia Index is expected to open at about 2,300.

Severstal will publish financial results under International Financial Reporting Standards (IFRS), the Moscow Exchange will post the volume of transactions in January, Shagov said, adding that these corporate events are the most anticipated ones on Friday.

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