Mixed global environment, weak crude can drive Russian stocks down

MOSCOW, Dec 1 (PRIME) -- The Russian stock market can continue to fall on Friday amid a mixed foreign background with oil prices seen weak on the recent disappointing decisions of the OPEC+ alliance, analysts said.

“The technical analysis points that (the MOEX Russia Index) will continue to fall to 3,125,” BitRiver financial analyst Vladislav Antonov said.

Alexei Golovinov, chief analyst at PSB Bank, expects the MOEX Russia Index to move within the range of 3,135–3,180 with an option of a rebound after recent losses.

Management company Alfa-Capital’s senior trader Vladislav Silayev said that the external background looks mixed with the main Asian markets trading without a uniting idea, the U.S.’ S&P500 index rising at the premarket, and the oil market being disappointed with the OPEC+’s recent output cut decisions.

Alor Broker analyst Alexei Antonov expects positive dynamics in the shares of oil major Rosneft that has recently released a positive financial report and top bank Sberbank that should return to an upward trend with a target of 300 rubles.

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