Russian stocks can fall as oil prices, Asian markets decrease

MOSCOW, Sep 29 (PRIME) -- The Russian stock market will likely fall on Wednesday in the morning as oil prices declined, as well as Asian markets, while U.S. stocks futures slightly recovered after a Tuesday dive, analysts said.  

"The external background before the start of trade in Russia looks negative. Asian stock market indices are falling after an extremely weak session on Wall Street. Oil prices continue to fall after yesterday's decrease, and the S&P 500 futures are growing by about 0.5% after a four-month record decrease on Tuesday," Oleg Syrovatkin, senior analyst of Otkritie Investments global research department, said.

He said that the decrease of U.S. stock market accelerated on Tuesday, the yield on Treasuries continued to grow at a fast rate, and negotiations over the U.S. state debt limit came to a dead end.

The Chinese authorities bailed out 20% of China Evergrande's stake in Shengjing Bank for U.S. $1.55 billion. Nevertheless, the bank demanded that the funds be spent on the redemption of developer's debt to the bank, and other creditors may not attain them, the analyst said.

Alexei Antonov, Alor Broker senior analyst, said that oil futures lost 1.6% to about $77 per barrel on Wednesday in the morning, as market players took profit ahead of the expiration. Oil prices are expected to stop decreasing in October, because there is a deficit of primary hydrocarbon supply.

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