Russian stocks seen flat on low activity ahead of Fed meeting

MOSCOW, Sep 19 (PRIME) -- Russian stocks may slightly grow or open flat on Tuesday amid a neutral background, oil prices fluctuating around U.S. $55.4 per barrel, and investor activity reduced ahead of the U.S. Federal Reserve System’s meeting, analysts said.

“We expect the Russian stock market to open at around 2,060 points at the MICEX index, assuming that it will continue consolidation around the current levels,” Oleg Shagov, head of the investment company Solid’s research department, said. On Monday, the MICEX closed at 2,059.08.

The ultimate influence of key external factors that have a significant impact on the Russian financial market is close to neutral today, the analyst said.

Brent oil futures are fluctuating around $55.4 per barrel in expectation of publication of the statistics data on the U.S. oil reserves.

The leading U.S. stock index futures are not changing much, while main Asian stock indicators are not showing single dynamics.

Investors will follow a two-day meeting of the U.S.’ Federal Reserve System opening on Tuesday, Shagov said, adding that the regulator will unlikely raise its interest rate.  

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