Russian stocks may consolidate amid dynamics of global floors, oil

MOSCOW, Nov 13 (PRIME) -- The Russian stock market is likely to consolidate at the current levels on Monday amid a moderately negative external background including falling crude prices, analysts said.

“We expect the Russian stock market to continue consolidation at the current level at the beginning of the trading session. The wave of decline seen last week in crude prices has not yet mirrored in Russian shares,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

“The factor can trigger active sales and correction movement of the MOEX Russia Index in the future,” he added.

Zvarich sees sentiments on the global markets as moderately negative with the main Asian indices losing up to 0.5%, except for China’s market that is consolidating at the level of the previous week’s closing, the core U.S. indices futures also falling by 0.5%, and the Brent oil price decreasing by 0.8% to U.S. $80.8 per barrel.

Alor Broker analyst Alexei Antonov said that further negative dynamics of oil prices will likely prevent the Russian market from growing.

Private investors who rule the Russian market are not ready to sell actively, and are looking for new trade ideas, he added.

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