Russian stocks seen flat on low investor activity ahead of holidays

MOSCOW, Mar 7 (PRIME) -- Russian stocks may open flat or slightly increase on Tuesday amid stable oil prices and lower investor activity ahead of the celebration of the International Women’s Day on Wednesday, analysts said.

“We expect the Russian stock market to open at the level of 2,045–2,050 points at the MICEX, assuming that this stock indicator will continue fluctuations around the current levels amid a reduced investor activity ahead of holidays,” Oleg Shagov, head of investment company Solid’s research department, said. On Monday, the MICEX closed at 2,047.42.

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 U.S. $56 per barrel on expectations of the oil statistics release.

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

Anton Manayev, head of the trade operations department at investment company Olma, said that the RTS index may slightly increase at the opening thanks to the improved external background. “But a stable growth looks unlikely – investors will prefer to abstain from purchases ahead of the holiday day in Russia on fears that foreign conditions may worsen,” he said.

Investors will follow publication of national top lender Sberbank’s financial results for February under Russian Accounting Standards.

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