MOSCOW, May 2 (PRIME) -- Russian stocks may open flat or slightly grow on Tuesday amid a neutral background and low investor activity ahead of long holidays, analysts said.
“We expect the Russian stock market to open at around 2,015–2,020 at the MICEX index today, assuming that this stock indicator will fluctuate around current levels under the influence of global oil prices, Western stock indicators, as well as the ruble rate’s changes, economic statistical data and ongoing events,” Oleg Shagov, head of investment company Solid’s research department, said.
The MICEX closed at 2,016.71 on April 28 and was closed on Monday due to a public holiday.
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. $51.4 per barrel under the pressure of ongoing growth of drilling activity in the U.S.
The leading U.S. stock index futures are not changing much, and main Asian stock indicators are not showing single dynamics.
Finam analyst Bogdan Zvarich expects Russian stocks to open flat on Tuesday amid a lack of clear growth or decline drivers and low investor activity amid a short work week and upcoming long May holidays.
Investors will follow talks between Russian President Vladimir Putin and German Chancellor Angela Merkel later in the day, Shagov said.
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