MOSCOW, Feb 3 (PRIME) -- The stock market will likely open unchanged on Wednesday because an upward effect from rising foreign markets will be offset by fears that foreign investors will withdraw from the Russian assets in the wake of a court sentence to politician Alexei Navalny, analysts said.
"The external background is positive today again --the American futures rise by 0.3–0.5%. Oil costs a bit less than U.S. $58 per barrel, the highest for the last year. But it is improbable that the Russian stock market will be able to price this in as the risks increase and foreign capital flees," Alor Broker senior analyst Alexei Antonov said.
According to the analyst, foreign investors can withdraw from the Russian assets on strengthening of anti-Russian rhetoric after a court ordered a prison term for Navalny. Sberbank and Norilsk Nickel is a matter of worry in this respect, Antonov said.
Finam analyst Alexander Kovalyov said that the external background for the session is moderately positive as the S&P 500 futures rise by 0.42%. The Asian markets predominantly grow with the Nikkei 225 increasing by 0.89%.
Oil trades mixed with the Brent falling by 0.14% and the WTI rising by 0.40%.
According to Antonov, continuation of the oil price growth is unlikely as longer futures are cheaper than the closest, which means that investors expect a decline of prices. The resistance level is $60 and it will unlikely be broken, he said.
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