Russian stocks seen opening flat ahead of OPEC plus meetings

MOSCOW, Mar 31 (PRIME) -- The Russian stock market will likely open with marginal changes on Wednesday ahead of the meetings of the OPEC plus joint ministerial monitoring committee and the deal’s participants on Wednesday and Thursday, analysts said.

"The situation is neutral again today: the U.S. futures are close to zero, oil and industrial metals have grown a bit. But gold decrease continues," Alor Broker senior analyst Alexei Antonov said. "Today we will barely see any serious changes on the markets."  

Vasily Karpunin, head of the department for information and research content at BCS World of Investment, said that the OPEC plus states will likely agree to keep the current oil output until June, which can support oil quotations at the current level.

Georgy Vashchenko, head of the department for trade operations on the Russian stock market at Freedom Finance, put the MOEX Russia Index corridor guidance at 3,500–3,550.

According to Antonov, gold producers are under pressure but steel makers lead the market.

Vashchenko said that O'Key’s financial report for 2020 under International Financial Reporting Standards (IFRS) will be the most important corporate event on Wednesday.

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