Russian stocks seen flat on rising oil prices, falling US indices

MOSCOW, Jul 17 (PRIME) -- The Russian stock market is expected to open with marginal changes on Wednesday as the effect from rising oil prices will likely be offset by decreasing U.S. indices on Tuesday, analysts said.

“We see the external background at the start of the trade on the Russian market as neutral. U.S. indices closed with small downward gaps yesterday despite predominating positive corporate reports for the second quarter of 2019,” Vadim Kravchuk, analyst at investment company Solid, said.

According to Kravchuk, a statement by U.S. President Donald Trump that the negotiations on trade issues with China will be long, and the U.S. can introduce duties on U.S. $325 billion Chinese goods, and partially the statistics influenced the foreign markets negatively.

Oil prices went up to $64.5, according to Kravchuk, after Trump said that there is a noticeable progress in negotiations with Iran.

Alexander Osin, head of the department for operations at the Russian stock market at investment company Freedom Finance, said that the introduction of E.U. sanctions against Turkey signals that political and financial pressure is seen as a legitimate measure for developing markets.

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