MOSCOW, Jun 25 (PRIME) -- The Russian stock market will likely decline on Monday at the start of the trading session due to a fall of oil prices and reports about the China–U.S. trade war, analysts said.
“The RTS can restart a downward correction under the pressure of external factors. The OPEC decision to raise output by 1 million barrels a day, albeit in part unsurprising, pushed the Brent oil futures down,” Olma senior analyst Anton Startsev said.
He said that investors are concerned with a possible escalation of the trade war after a Bloomberg report that the U.S. Treasury Department can increase control over Chinese investment on Friday reducing investors interest to risks.
Vitaly Manzhos, senior risk manager at investment company Nord Capital, said that the external background before opening of the trading session is negative. The U.S. stock market futures fell by up to 0.5%. Brent decreased by 1.6%, gold futures by 0.2%, Japan’s Nikkei 225 by 0.7%, Hang Seng by 0.8%.
The MOEX Russia Index is to fall by about 1% close to 2,225. The levels of 2,210 and 2,200 will be the closest support levels and 2,250 and 2,260 the closest resistance levels.
The dividend gap of Sberbank will also be a negative factor for the entire market, Manzhos said.
End
|
|
