Russian stocks seen flat on oil, foreign markets cooling

MOSCOW, Jan 19 (PRIME) -- The Russian stock market will likely open flat on Friday on the back of slightly negative dynamics of oil prices and foreign markets, analysts said.

“A halt of the RTS index growth is possible today at the start of the trading session. Buyers on the fuel market have reduced their activity on the back of an OPEC forecast of output growth in non-member countries,” Olma senior analyst Anton Startsev said, adding that Western markets are somewhat sagging as the financing of the U.S. government will soon end due to budget discords.

According to Oleg Shagov, head of the investment company Solid’s research department, the external background for the start of the Russian trading session is close to neutral.

The Brent price is close to U.S. $68.6 per barrel under a pressure after the U.S. production figures; the U.S. stock market futures and the European premarket are showing marginal dynamics, and the Asian markets are weakly rising.

Shagov said that these factors will make the MOEX Russia Index open at 2,297.47 and continue attempts to exceed the 2,300 threshold if the background is positive.

Operating figures of pipe producer TMK and steel maker Severstal for October–December are expected to be the most important corporate events in Russia and a financial report by Schlumberger will affect investors’ mood worldwide on Friday, Shagov said.

End