Russian stocks may fall as oil price, US stocks decrease

MOSCOW, Sep 7 (PRIME) -- The Russian stock market may fall at Monday opening on the back of an oil price decline and a U.S. stock markets closing in the red zone on September 4, analysts said.

“The external background for the Russian stock market today is slightly negative. Russian indices will reflect a weak Friday’s closing of the key indices in the U.S.,” Vasily Oleinik, an analyst at ITinvest, said.

The MICEX will likely open with a 0.4% downward gap, and the RTS may lose up to 1.5%, he said.

Brent fell 0.77% to U.S. $49.23 per barrel at 9.24 a.m. Moscow time and Asian markets fell, which are negative factors for Russian stocks, Manzhos said.

The risks concerning the Chinese economy continue increasing, Oleinik said.

Investors’ activity will be subdued because of a holiday in the U.S. and a presumably uneventful day elsewhere, so the MICEX is expected to consolidate later on Monday, Oleg Shagov, senior analyst at investment company Solid, said.

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