Russian stocks seen flat as global markets recover, oil price low - Financial Wire - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Russian stocks seen flat as global markets recover, oil price low

MOSCOW, Dec 2 (PRIME) -- The Russian stock market will likely open with marginal changes on Monday as the global markets are recovering after a fall on November 29 and the oil prices remain low, analysts said.

УWe see the external background as mixed today before the opening: a local mood improvement on the global trading floors can be compensated by a significant correction of oil quotations,Ф Mikhail Poddubsky, senior analyst at Promsvyazbank, said.

Finam analyst Sergei Drozdov said that a report by Bloomberg that Saudi Arabia could say it would refuse to be the only state to balance oil overproduction by the other OPEC plus deal participants any longer at a meeting on ThursdayЦFriday, made oil prices decline by 4% on November 29.

On Monday morning, the Brent price recovered 1.39% to U.S. $61.33 as of 9:00 a.m., Moscow time.

Drozdov said that on November 29, the U.S. investors, returning to the market after Thanksgiving, were disappointed by President Donald Trump signing of a bill on human rights compliance in Hong Kong. Reuters reported that the White House was discussing extending the influence on foreign companies in order to block supplies to ChinaТs Huawei.

Drozdov also said that the main event concerning ChinaЦU.S. relations is yet to take place, as Trump will decide on raising the tariffs on Chinese goods on December 15.

Olma senior analyst Anton Startsev said that the Asian markets recovered as ChinaТs purchasing managersТ index (PMI) turned out to be better than the forecast.

According to Drozdov, the support level for the MOEX Russia Index stands at 2,910 and 2,890. The resistance notch is 2,950. The local support level for the RTS index stands at 1,421 and 1,410, and resistance at 1,450.

Poddubsky said that the Russian reporting season is almost over but presentation of a new dividend policy by Gazprom on Thursday is seen as an important event.

End

02.12.2019 09:22
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 70.7594 +0.0349 07 dec
USD 63.7185 -0.0950 07 dec
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1448.34 +1.25 18:50 06 dec
micex 2928.76 +1.02 18:50 06 dec
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 247.83 +0.60 18:49 06 dec
lkoh 6220.00 +1.61 18:49 06 dec
rosn 446.00 +1.73 18:49 06 dec
sber 235.14 +1.48 18:49 06 dec
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 70.6675 -0.1275 14:59 06 dec
USDTD 63.6775 -0.1050 17:44 06 dec