Russian stocks to open neutrally on oil price consolidation

MOSCOW, Sep 17 (PRIME) -- The Russian stock market will demonstrate a marginal dynamics at the trading session opening on Thursday because oil prices have consolidated, and investors are waiting to know about the U.S. Federal Reserve System (Fed) key rate decision, analysts said.

“The Russian stock market will open neutrally today. The growth of the U.S. stock market indices and the consolidation of oil quotations on the commodities market will trigger a neutral opening of the domestic stock market,” Denis Khripushin, analyst at 2trade.ru, said.

Brent added 0.18% to U.S. $49.84 per barrel at 9:02 a.m., Moscow time.

The U.S. Fed will announce the key rate ruling at 9:00 p.m., Moscow time, and a press conference of Chairwoman Janet Yellen was slated for 9:30. The possibility of key rate increase was appraised at 32%, Startsev said.

Although the probability that the Fed will make the monetary policies stricter is low, the verbal interventions can contain some tough rhetoric, Oleg Shagov, head of the analytical department at investment company Solid, said. Investors’ activity can still be subdued before the Fed decisions, he said.

Asian markets are growing on Thursday, which is a positive factor for Russian stocks, Promsvyazbank analyst Ilya Frolov said.

The MICEX will open with a 0.2–0.3% upward gap, Vitaly Manzhos, senior analyst at Bank Obrazovanie, said. The RTS can continue growing, Anton Startsev, senior analyst at investment company Olma, said.

The MICEX will be volatile in the second half of the day amid U.S. statistics release, Manzhos said.

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