Russian stocks may decrease in line with oil prices, US benchmarks

MOSCOW, Sep 20 (PRIME) -- Russian stock are likely to open lower on Monday as they are pressured by a negative foreign environment including decreasing U.S. stock indices futures and prices for oil and other commodities, analysts said.

“The external background is gradually worsening, which may spark further downward correction… The MOEX Russia Index can fall below 4,000 on Monday,” Director of BCS Broker’s stock market experts department Vasily Karpunin said.

Most commodities are seen lower, he added.

Karpunin said that the financial sector of the Russian stock market can demonstrate the worst performance, whereas oil shares will likely show more stable dynamics.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, said that the Brent oil price has lost around 0.6% and the main U.S. benchmarks are trading around 0.5–1% lower on Monday morning so the external environment can be seen as negative, which will push Russian stocks down.

He expects the MOEX Russia Index to edge down by 0.2–0.6% to 4,010–4,025 at the opening, and then continue to decrease.

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