Russian stocks to fall on oil market tension ahead of OPEC meeting

MOSCOW, Nov 28 (PRIME) -- Russian stocks may slightly decrease at the opening on Tuesday amid an oil market tension ahead of the upcoming OPEC meeting, analysts said.

“We expect the Russian stock market to open around 2,145 points at the MOEX Russia Index, assuming that amid a worsening foreign background this stock indicator may be under pressure of sales,” Oleg Shagov, head of the investment company Solid’s research department, said.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, expects the MOEX Russia Index to slightly decrease at the opening, around 2,145 points.

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

Brent oil futures are fluctuating around U.S. $63.7 per barrel in expectation of publication of the U.S. oil reserves statistics data. The oil market remains in tension ahead of a meeting by OPEC and non-OPEC states over extension of the oil production cut agreement scheduled for Thursday.

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

Investors will follow publication of financial results by VTB, TransContainer, and Mechel, among other corporate events.

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