Russian stocks seen opening flat on US market fluctuations

MOSCOW, Dec 30 (PRIME) -- The Russian stock market will likely open with marginal changes on Wednesday amid an expected recovery of the U.S. market after a dip, analysts said.

"Сonsolidation of the RTS index near 1,400 is possible today, high market activity is improbable during the last trading session," Olma senior analyst Anton Startsev said.

Alor Broker analyst Alexei Antonov said that the background for the start of the session is neutral because the U.S. stock market fell on Tuesday but the futures rose on Wednesday morning.

The Russian market is to try to form a rising trend following the Western trading floors. The trend will likely be supported by a weakening U.S. dollar, the analyst said.

Antonov said that oil companies remain undervalued although oil stabilizes above U.S. $51. The gold prices are to exceed $1,900 per troy ounce, which is favorable for gold companies. The steel producers continue to fall but this trend is temporary because the external background for the stocks is favorable.

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