Russian stocks may fall at opening on weak oil

MOSCOW, Oct 5 (PRIME) -- The Russian stock market is likely to decrease at opening on Thursday dragged down by falling oil prices, analysts said.

“Today at the start of trading we expect sales in Russian shares to prevail. The correction in oil prices, which took place a day earlier, will put pressure on our market and contribute to its decline,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

As a result, by the end of the session, the MOEX Russia Index may make a significant step towards the nearest support, located at 3,075, the analyst added.

He also said that the sentiment on world markets on Thursday morning can be characterized as moderately positive.

According to Alor Broker analyst Alexei Antonov, the Russian stock market yesterday bravely resisted cheapening oil, but this will not last long.

The main event of yesterday was the unexpected collapse of oil, quotes lost more than 5% with no objective reasons, the analyst also said.

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