Russian stock market may decrease at opening after global floors

MOSCOW, Sep 14 (PRIME) -- The Russian stock market may decrease at the opening on Wednesday following the negative moods on the global floors, analysts said.

“The start of trading in Russia is expected with a fall of the MOEX Russia Index within 0.2–1.0%,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said and attributed the expectation to a worsened state of the external background.

“However, the fall at the opening may not receive further large-scale development. It should also be taken into account that the influence of the external markets on the local stock indices remains weak,” Manzhos added.

“The MOEX Russia Index will remain in the 2,400–2,500 range today in expectation of triggers that may help define further dynamics,” head of PSB Bank’s analysis group Vladimir Solovyov said.

The moods on the global market are negative in the morning, Bogdan Zvarich, senior analyst at financial platform Banki.ru, said. The leading Asian indices lost about 2.7%, while the futures on the U.S. main stock indices are correcting and increasing 0.2%. The Brent oil futures lost 0.6% and is trading about U.S. $92.6 per barrel.

Investors will track the release of the producer price index in the U.S. for August. Sales on the global markets may intensify if the figures are higher than expected, Solovyov said, adding that on the whole, the downward trend will continue on the global markets during the day.

End