Russian stocks can fall slightly on US tax reform uncertainty

MOSCOW, Dec 15 (PRIME) -- The Russian stock market will likely decrease on Friday at the start of the session on the back of a negative reaction of foreign trading floors to U.S. tax reform uncertainty, analysts said.

“A certain deterioration of the situation on global stock markets (partially due to uncertainty concerning a U.S. tax reform) can put pressure on the Russian market demand but there are no reasons for a serious downward correction of the RTS index,” Olma senior analyst Anton Startsev said.

Oleg Shagov, head of the investment company Solid’s research department, said that the influence of external factors on the Russian market is close to neutral as Brent fluctuates close to U.S. $63.3 per barrel, U.S. stock market futures are rising, while Asian markets are mixed and the European premarket signals a small decline later in the day.

Shagov said that the MOEX Russia Index can open at about 2,150 and can remain close to the level. Startsev said that the RTS can grow to about 1,170.

According to Shagov, a news conference of the central bank’s Chairwoman Elvira Nabiullina at 3:00 p.m. Moscow time will be the key event for market participants on Friday.

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