Russian stocks seen flat on stable oil, neutral background

MOSCOW, Oct 17 (PRIME) -- Russian stocks may open flat or slightly grow on Tuesday amid stable oil prices and a neutral foreign background, analysts said.

“We expect the Russian stock market to open around yesterday’s close at the MICEX (2,106.4 points), assuming to see in the future its attempts to maintain around the psychological notch of 2,100 points and continue a medium-term growth trend in case of improvement of the foreign background,” Oleg Shagov, head of the investment company Solid’s research department, said.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, expects the MICEX to grow around 0.1–0.2% to around 2,110 points at the opening.

The ultimate influence of key external factors that have a significant impact on the Russian financial market is close to neutral today, Shagov said.

Brent oil futures are fluctuating around U.S. $57.8 per barrel in expectation of publication of the U.S. oil reserves statistics data.

The leading U.S. stock index futures are not changing much, and main Asian stock indicators are mostly demonstrating moderate positive dynamics.

Investors will follow publication of operating results by LSR Group and Evraz, among other corporate events.

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