Russian stocks seen opening flat on rumors about OPEC measures

MOSCOW, Aug 17 (PRIME) -- The Russian stock market will likely open little changed on Tuesday on rumors that the oil prices will receive support from OPEC soon, analysts said.

"I expect neutral opening of the market. There is no reason for correction," Andrei Vernikov, head of the investment analysis and education department of investment company Univer Capital, said.

He added that the market expected OPEC plus to decide not to raise supply not to send the oil prices into a slump since they are already under pressure from a new COVID-19 wave. The Brent price found support at U.S. $68.5 on the news.

Alor Broker senior analyst Alexei Antonov said that although the MOEX Russia Index is only half a percentage point away from a new all-time high, it will unlikely to set a new record in the first half of the day as the U.S. stock market futures fell by 0.2%.

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