Russian stocks seen flat on stable oil, neutral background

MOSCOW, Jan 10 (PRIME) -- Russian stocks may open flat on Tuesday amid stable oil ahead of the U.S. oil data release and a neutral foreign background, analysts said.

“We expect the Russian stock market to open at the level of the previous close (2,211 points at the MICEX), assuming that in case of further deterioration of the foreign background this stock indicator can again test for resistance the support zone, which has formed around the psychological notch of 2,200 points,” Oleg Shagov, head of investment company Solid’s research department, said.

The ultimate influence of key foreign factors that have a significant impact on the Russian financial market is close to neutral at the beginning of the day, the analyst said. Brent oil futures are fluctuating around U.S. $55 per barrel remaining under pressure in anticipation of publication of the U.S. oil reserves and production data, as well as announced intentions to start oil sales from the U.S. strategic reserves, he said.

The U.S. leading stock index futures are slightly falling, while main Asian stock indicators are not showing single dynamics.

Finam analyst Timur Nigmatullin expects that the MICEX will trade around zero in the first hours after the opening of trading.

Investors will follow publication of food retailer Magnit’s operating results for December 2016, among other events in the day, Shagov said.

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