Russian stocks seen lower amid oil price, global floors decline

MOSCOW, Apr 6 (PRIME) -- Russian stocks may decrease at the opening on Thursday pressured by falling oil prices and overall negative foreign background, analysts said.

“We expect to see the Russian stock market opening at around 2,050 points at the MICEX index, assuming that amid a worsened foreign background this stock indicator can see correction after 3-day growth,” Oleg Shagov, head of investment company Solid’s research department, said. On Wednesday, the MICEX closed at 2,056.32.

The ultimate influence of key external factors that have a significant impact on the Russian financial market is moderately negative today, the analyst said.

Brent oil futures are falling on reports that Saudi Arabia reduced oil prices for European consumers, which will sharpen competition on the E.U. gas market.

The leading U.S. stock index futures are suffering small losses and main Asian stock indicators are mostly decreasing.

Finam analyst Bogdan Zvarich expects the MICEX to fall to around 2,040 points at the opening amid negative oil price and global floors dynamics. The Brent oil price may grow to U.S. $54.5 later, which will help the Russian stock market to restore, he also said.

Investors will follow publication of financial results by power grid holding Rosseti, among other corporate events.

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