Russian stocks to slide as oil hit ceiling, Ukraine peace unstable

MOSCOW, Feb 16 (PRIME) -- The Russian stock market will decrease at the opening of Monday’s session because oil prices have ceased to grow, and investors are worried whether truce in Ukraine will be maintained, analysts said.

“In fact, we do not rule out a certain cooling on the Russian stock market with the MICEX slipping to 1,825-1,835 at the start of the week. First, the global market activity may be low due to the celebration of the Presidents’ Day. Second, Brent prices have stuck at U.S. $52 per barrel level lately and are quite overheated,” Promsvyazbank said in a research note.

Brent fell 0.09% to $52.69 per barrel as of 9.31 a.m., Moscow time.

The U.S. stock markets will be closed for the Presidents' Day on Monday.

Investors’ worries over whether the Ukrainian truce will hold or will be broken are a crucial factor, and traders will watch the situation in the east of Ukraine, where military clashes near the Ukrainian town of Debaltseve are still taking place, Olma senior analyst Anton Startsev said.

“The geopolitical factor still influences trends during a trading session: investor approach will in many respects depend on how successfully the plan of Ukraine’s stabilization approved after a meeting in Minsk is followed,” Startsev said.

On Monday, the euro zone will publish trade surplus figures for December, which will be important for Russian investors, Finam analysts said.

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