Russian stocks seen flat on oil price, US futures’ consolidation

MOSCOW, Nov 25 (PRIME) -- The Russian stock market may open almost unchanged on Friday because of an oil price consolidation ahead of an OPEC meeting and marginal dynamics of U.S. stock market futures after Thanksgiving Day, analysts said.

“The ultimate influence of key external factors that have an impact on the Russian financial market is close to neutral at the beginning of the day,” Oleg Shagov, head of investment company Solid’s research department, said.

Brent oil prices are moving around the U.S. $48.6 per barrel level as investors are waiting for an OPEC decision on future market steps. U.S. stock market futures are little changed after Thanksgiving Day. Asian markets are showing mixed dynamics, all these factors will contribute to a neutral trade start in Russia, Shagov said.

Anton Startsev, a senior analyst at investment company Olma, said that the U.S. Federal Reserve System will almost certainly raise the key rate in December, this estimate will be limiting demand for risky assets, so there are no stimuli for a strong rise of the Russian market.

Black Friday will begin in the U.S., and Shagov said that global investors will be tracking the sales figures in order to understand the consumer demand level and the prospects for the economy.

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