Russian stocks can fall as oil prices remain near $50 per barrel

MOSCOW, Dec 26 (PRIME) -- The Russian stock market will likely decrease at the start of the trading session on Wednesday due to the absence of clearly positive oil price dynamics after a 6% slide on Monday, analysts said.

“The Russian stock market can continue falling on Wednesday on the back of unclear oil price dynamics and the absence of signals from the Western floors,” Ivan Marchena, Forex Club’s analyst, said.

Investment company Olma’s analyst Anton Startsev said that there are no reasons to push forward with sales although the external background remains moderately negative.

“The Brent price has stabilized close to a psychologically important level of $50 per barrel, the U.S. president has eased the rhetoric about the Federal Reserve System (Fed), (which, nevertheless, has not restored investors’ trust in the stock market),” Startsev said.

According to the analyst, consolidation close to 1,050 of the RTS is possible in the short term.

Sergei Drozdov, investment company Finam’s analyst, said that the U.S. trading floors will resume operations after the Christmas holidays and will provide ideas to the Russian traders.

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