Russian stocks may fall at opening on global negative trends

MOSCOW, Feb 18 (PRIME) -- The Russian stock market may edge down at the opening and during the day on Tuesday, dragged by a negative foreign background, analysts said.

“The external background is moderately negative prior to the opening of the Russian stock market. The nearest Brent oil futures fell 0.9% to around U.S. $57 per barrel… which will pressure the local market,” senior analyst at Promsvyazbank Bogdan Zvarich said.

The negative sentiment may persist during the day in light of mounting concerns about the influence of the coronavirus outbreak on the global economy and declining appetite for risk assets including emerging markets’ securities and energy commodities, he added.

Director of BCS Broker’s stock market experts department Vasily Karpunin said that the MOEX Russia Index is likely to open lower due to the discouraging global environment with Asian stocks exchanges trading in the red territory and the U.S. S&P500 benchmark losing around 0.3%.

Olma senior analyst Anton Startsev said that the RTS index will also likely correct downwards thanks to the negative background.

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