Russian stocks can fall on fears of geopolitical deterioration

MOSCOW, Feb 17 (PRIME) -- The Russian stock market will likely fall at opening on Friday ahead of the February 23–26 holidays, when the political situation may deteriorate, analysts said.

"Fears of negative events that might happen next week during the long holidays are the main reason for sales. This driver remains in force today, and oil falling by 1% added to it," head of Alor Broker’s investment consulting department Alexei Antonov said.

The Russian markets will be closed from next Thursday to celebrate the Defender’s Day. On February 21, President Vladimir Putin will address the Federal Assembly.

The Brent oil blend price eased by 0.67% to U.S. $84.62 for a fourth consecutive day of decline. According to BitRiver financial analyst Vladislav Antonov, there was no important news on the market, and the prices changed on the back of a strengthening U.S. dollar.

Baker Hughes is to release the U.S. drilling information after hours in Russia, to which the prices may react, the analyst said.

The level of 2,135–2,145 is seen as support for the MOEX Russia Index, he said.

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