Russian stocks likely to edge down thanks to negative global mood

MOSCOW, Dec 21 (PRIME) -- The Russian stock market is likely to open down on Friday hurt by a discouraging global environment with the Brent oil price consolidating below U.S. $55 per barrel and most of U.S. and Asian markets seen in the red territory, analysts said.

“The Russian stock market may witness another session in the negative territory on Friday due to a fall on the U.S. and Asian stock exchanges,” Forex Club analyst Ivan Marchena said.

Finam analyst Sergei Drozdov said that the U.S. benchmarks have been impacted by the U.S. Federal Reserve’s decision to tighten the monetary policy and a threat of a partial government shutdown after the House of Representative’s disapproval to fund building a wall on the U.S. border with Mexico.

Sliding U.S. indices have dragged down oil prices which lost around 37% from the peak seen in October despite OPEC+ decision on a further oil production cut, Drozdov also said.

Olma senior analyst Anton Startsev said that the RTS index’s downward correction may deepen due to the pressure of external factors including the vague future of the Brexit deal.

Investors in Russian will also follow dividend decision of steelmaker Novolipetsk Steel (NLMK), oil company Tatneft and Novorossiysk Commercial Sea Port (NCSP).

End