Russian stocks likely to fall at opening on global sentiments

MOSCOW, Dec 20 (PRIME) -- The Russian stock market is likely to decline on Tuesday at opening over global pressure from recession risks, analysts said.

“Today, pressure on the Russian shares will remain on the background of worsening investors' attitude towards risky assets on global markets. As a result, our market may continue to move within the framework of the correction scenario with the nearest target near 2,050–2,100 points,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

In case of worsening of the situation with oil prices, the decline of the MOEX Russia Index may accelerate, as a result it will retreat under the upper boundary of the range, he added.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, said that the combination of the negative external background and the dividend cut-off in Lukoil shares creates conditions for the MOEX Russia Index to open with a strong decline.

In the second half of the day only important foreign policy or corporate news can have a significant impact on the trading in Russia, as foreign statistics indicators important for the Russian stock market will not be published today, he also said.

End