Russian stocks seen flat on lackluster oil price movements

MOSCOW, Oct 21 (PRIME) -- The Russian stock market will likely open neutrally on Friday on insignificant oil price movements, analysts said.

"The external background in the morning can be characterized as neutral. Oil trades at yesterday's closing with the risks of decreasing to U.S. $90 per barrel, while the American futures decrease. But we should not pay attention to America, because there is almost no correlation with it," head of the investment consulting department at Alor Broker Alexei Antonov said.

Otkritie Research senior analyst Andrei Kochetkov said that the Asian markets traded mixed with the Chinese market rising slightly in the morning.

The oil prices benefited from the news that China may reduce the quarantine time for arriving people, but was hurt by attempts of the central banks to raise the rates.

The E.U. is soon to ban all Russian sea-born oil shipments, which may affect availability of oil, which, together with OPEC+ attempts to cut production may spur a price surge.

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