Russian stocks may edge down slightly on negative global environ

MOSCOW, Aug 9 (PRIME) -- The Russian stock market may open with a modest decrease on Friday thanks to persisting pressure on crude prices and high global demand for safety assets, analysts said.

“The MOEX Russia Index will start the trading session with a slight decrease which is linked to the dynamics of Asian floors and the fact that crude prices are still exposed to pressure,” Solid Broker analysts said.

Alor Broker analyst Alexei Antonov said that the domestic market has no growth power and is likely to open 0.3% lower as the main U.S. indices futures and oil prices are in the negative territory.

Olma senior analyst Anton Startsev sees no reasons for the RTS index to stop consolidating around the 1,300 mark. The price dynamics of gold and U.S. treasuries demonstrate high demand for safety assets, he said.

Meat producer Cherkizovo Group and diamond producer ALROSA are expected to publish operating results reports for July, and aluminum giant UC RUSAL will publish IFRS results for April–June and it may also influence the Russian market.

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