Russian stocks may edge down discouraged by global negative mood

MOSCOW, Oct 25 (PRIME) -- The Russian stock market may edge down on Thursday following a global market trend and consolidate later in the day, analysts said.

“The Russian stock market may open significantly lower amid active sales on the world’s stock exchanges, but the market may be supported by recent statements of the U.S. government that it plans no new sanctions against Russia yet,” Forex Club analyst Ivan Marchena said.

On Wednesday, U.S. National Security Adviser John Bolton said during his visit to Moscow that Washington was not considering additional sanctions against Russia.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, said that the MOEX Russia Index is likely to open with a 0.7% downward gap at around 2,320 and may consolidate during the day waiting for new considerable drivers.

Olma senior analyst Anton Startsev said that the RTS index will also likely resume its downward correction following the global market.

The market will also be driven by releases of operating results reports for July–September by U.K.-based mining giant Evraz, which operates mainly in Russia, coal producer Raspadskaya, grocery retailer O’Key Group, power company Enel Russia and steelmaker Novolipetsk Steel (NLMK).

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