Russian stocks seen flat on ruble weakening, oil prices growth

MOSCOW, Oct 19 (PRIME) -- The Russian stock market will likely open little changed on Thursday on the back of a decrease of the ruble and a growth of oil prices, analysts said.

“Ruble weakness and oil correction will keep the index around 3,250,” BitRiver financial analyst Vladislav Antonov said.

The national currency was favorably affected by the preparation of Russian exporters to pay taxes, as well as the increase in oil prices to U.S. $92.96, he said.

The ruble is also supported by expectations of a key rate increase by the central bank at the upcoming meeting of the board of directors on October 27, the analyst said.

According to Promsvyazbank senior analyst Vladimir Lyashchuk, today the stock market may return to restrained optimism.

He also said that expects new attempts of the MOEX Russia Index to go higher, but the success is still questionable.

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