Russian stocks may decrease amid drop of global floors, oil prices

MOSCOW, Mar 10 (PRIME) -- The Russian stock market can demonstrate negative dynamics at the opening and continue downward correction during the day on Friday on the back of the worsening of the global sentiments, analysts said.

“We expect persisting pressure on the Russian stock market. The worsening global environment and further crude correction will become the reasons for sales to prevail on the local bourses,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

“The market will continue its downward movement that started yesterday from the 2,300 mark. The MOEX Russia Index can make a significant step to the nearest support of 2,250,” he added.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the MOEX Russia Index to open with a fall of 0.2–0.7% into the range of 2,275–2,285, but does not project further aggressive sales on the market.

Zvarich sees the foreign background as negative. The main Asian markets are falling by up to 1.7%, the core U.S. indices futures are losing 0.7%, and the Brent oil price has decreased by 0.5% to U.S. $81.1 per barrel.

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