Russian stocks may decline on negative foreign background

MOSCOW, Aug 7 (PRIME) -- Russian stocks may decline at the opening on Friday pressured by the negative foreign background amid the aggravation of the U.S.–China relations, analysts said.

“The foreign background before the start of trading is negative. Asian indices are mostly declining amid another step by the U.S. to aggravate trade and economic relations. The U.S. dollar is correcting its losses, which puts pressure on commodity assets… All this suggests that at the beginning of trading, Russian indices may decline, while the ruble may weaken under pressure from external factors,” Otkritie Broker analyst Andrei Kochetkov said.

Olma senior analyst Anton Startsev said that the U.S. stock indices rose 0.6–1.0%, while the U.S. stock index futures are trading below the levels of Thursday’s close, European stock indices closed in minus, and Asian indices are also showing downward correction.

“A downward correction of the RTS index is possible at the start of trading today under the influence of foreign factors. The mood of traders on global stock markets has changed due to the aggravation of relations between the U.S. and China, which resulted in the prohibition of the U.S. residents to participate in transactions with individual Chinese companies,” Startsev said.

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