Russian stocks may fall in line with Asian floors, oil prices

MOSCOW, Oct 29 (PRIME) -- Russian stocks may slightly decrease at the opening on Tuesday amid negative dynamics on Asian floors and falling oil prices, analysts said.

“The Russian market may start Tuesday with a small decline amid weakness of oil and a number of key Asian indices,” Otkritie Broker analyst Andrei Kochetkov said.

Before the start of trading in Russia, the foreign background is neutral, but dynamics of a number of Asian indices and oil are negative, he said. A decision of the U.S. Federal Reserve will be one of the key issues in the next couple of days, he added.

The U.S. stock indices rose 0.5–1%, the U.S. stock index futures are trading slightly above Monday’s close, and European stock indices closed in plus, Olma senior analyst Anton Startsev said.

“Consolidation of the RTS Index is possible in the short term. Global indicators of volatility remain at relatively low levels, which implies the preservation of ‘demand for risk’, however, in the coming days, activity on the markets as a whole may decrease in anticipation of the announcement of the decision by the U.S. Federal Reserve on the base interest rate,” Startsev said.

Investors will follow publication of retailer Magnit’s results for July–September, as well as a decision of fertilizer producer Acron’s board of directors on dividends later on Tuesday, Kochetkov said.

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