Russian stocks may edge down dragged by global uncertainty

MOSCOW, May 14 (PRIME) -- The Russian stock market may correct downwards on Thursday amid a mixed background and mounting global uncertainty, analysts said.

“We expect the MOEX Russia Index to open with marginal changes of up to 0.5%, within the 2,590–2,620 range… The market is likely to consolidate later in the day thanks to a mixed background seen in the morning,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The U.S. stock indices futures are falling 0.1–0.3%, the Brent oil price has added 0.9%. Asian markets are seen around 0.7–1.5% lower, he added.

Olma senior analyst Anton Startsev said that the RTS index may continue downward correction as investors’ appetite for risk decreases on the global economy’s uncertain outlooks after the pandemic.

Fertilizer producer PhosAgro will publish IFRS results for January–March and shoes retailers Obuv Rossii’s board of directors will discuss dividends for 2019, which may also influence the Russian market.

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