Russian stocks can fall at opening following external negativity

MOSCOW, Nov 21 (PRIME) -- The Russian stock market can fall at the opening on Monday because of a pessimistic external background, including decreasing energy prices, analysts said.

“The Russian stock market can be exposed to pressure again due to a worsening situation on the energy market. As a result, the MOEX Russia Index can try to break through the support line of 2,200,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

If the index falls below the mark, the correction scenario to the area of 2,050–2,100 can follow, but if it manages to consolidate above 2,200, the upward trend will stay in force, and the local market can rise to 2,300–2,350, he added.

Zvarich said that the global environment looks negative with the main Asian markets losing up to 1.3%, the core U.S. indices futures falling by up to 0.4%, and the nearest Brent oil futures decreasing by 0.6% to U.S. $87.1 per barrel.

BitRiver financial analyst Vladislav Antonov said that the ruble is still supported by the trade balance surplus and the taxation period and is likely to continue consolidation.

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