Russian stocks to open mixed on falling oil prices, good environ

MOSCOW, Dec 19 (PRIME) -- Russian stocks are likely to open mixed on Friday due to falling oil prices and rising foreign trading floors, analysts said.

“We expect the market to open with an insignificant increase near 1,480 points of the MICEX index…After the moderately positive start, the MICEX will consolidate awaiting for new important signals,” Vitaly Manzhos, analyst at Nord-Capital, said.

“Despite some rallies on Western bourses, today at the start of the trading session the RTS index is likely to stop its upward movement due to some pressure exerted by oil prices…technical analysis says the index can find resistance in a 780-790 range,” Anton Startsev, Olma’s senior analyst, said.

The Brent oil price is again trading below U.S.$60, at. $59.65 per barrel as of 8.46 a.m. Moscow time. But the external background prior to Russian market’s opening is positive, with U.S. stock index futures slightly rising and Asian floors showing mixed dynamics.

In general, the external background favors the continuation of the ruble-denominated MICEX index’ growth but it will happen more due to the ruble falling, Anton Soroko, Finam’s analyst, said.

Investors will closely watch the release of U.S.’ state sector loans data, U.S. weekly inflation cycles and Kansas Federal Reserve production activity index.

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