Russian stocks can fall on oil price decrease, Italy conflict - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Russian stocks can fall on oil price decrease, Italy conflict

MOSCOW, May 30 (PRIME) -- The Russian stock market will likely open with a downward gap on Wednesday due to decrease of oil prices, of foreign stock market indices†and political issues in Italy, analysts said.

УThe external background remains unfavorable: growth of volatility has started on foreign trading floors,†the spread between the emerging and developed markets bonds (Emerging Markets Bond Index Global Spread) has grown to the peak level since 2016, the situation in the segment of Italian state debt remains unstable (the yield on two-year sovereign securities of Italy rose to 2.7% annually in three days from 0.5% annually),Ф Anton Startsev, a senior analyst at investment company Olma, said.

Promsvyazbank analyst Mikhail Poddubsky said that the Italian parliament will barely approve Carlo Cottarelli, a candidate for the prime minister post by the president, and in this case Italy will face early elections in September.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, said that an up to 0.2% decline of the U.S. stock market futures, a 0.5% decrease of the Brent oil price and a drop of the JapanТs Nikkei225 and Hong KongТs Hang Seng indices with unchanged gold prices are making for a moderately negative external background for the opening of the Russian trading session.

As a result, the MOEX Russia Index can open with a 0.5% downward gap, in a range between 2,285 and 2,290. The levels of 2,280 and 2,270 will be the support ones and of 2,300 and 2,310 the resistance ones, Manzhos said.

Startsev said that the RTS will likely deepen its downward correction. ††


30.05.2018 09:30
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 71.9232 -0.3208 20 apr
USD 63.9602 -0.1086 20 apr
Stock Market Indices
1D 1W 1M 1Y
rtsi 1261.06 -0.10 17:13 19 apr
micex 2563.04 +0.09 17:13 19 apr
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 162.07 +0.17 16:56 19 apr
lkoh 5603.50 -0.12 16:55 19 apr
rosn 432.55 -0.71 16:56 19 apr
sber 232.59 -0.09 16:56 19 apr
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 71.9125 -0.2875 14:59 19 apr
USDTD 63.9725 +0.0775 17:44 19 apr