Russian stocks can fall on rising uncertainty, global market slide

MOSCOW, Jan 22 (PRIME) -- The Russian stock market may edge down at the opening and consolidate later in the day on Tuesday pressured by the worsening external background, analysts said.

“We expect mixed trading… The MOEX Russia Index is likely to consolidate within a 2,460–2,500 range,” Grigory Vashchenko, director of the Russian stocks operations department at investment company Freedom Finance, said.

Olma senior analyst Anton Startsev said that the RTS index may correct down at the beginning of the session following the dynamics of Asian benchmarks and U.S. indices futures.

The global environment has worsened due to cooling optimism about the progress of trade negotiations between China and the U.S. and rising uncertainty about the future of the Brexit deal, Startsev added.

The domestic market will also be driven by releases of operating results for October–December and 2018 by integrated steel producer Magnitogorsk Iron and Steel Works (MMK), oil and gas pipe maker TMK and real estate developer PIK Group.

End