Russian stocks may fall in line with global bourses, crude prices

MOSCOW, Aug 2 (PRIME) -- The Russian stock market is likely to edge down at the opening on Tuesday in light of a worsened global background with falling crude prices and negative stock markets dynamics, analysts said.

“Sales in Russian shares can again prevail on Tuesday considering worsening sentiments on the global markets and falling crude prices. The Russian market can reach last Thursday’s lowest,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

Asian stock exchanges are decreasing by up to 2.2% with China being the biggest loser amid mounting geopolitical tensions around Taiwan, the core U.S. indices futures are seen up to 0.4% lower, and the Brent oil price has lost 0.8% to below U.S. $100 per barrel, he added.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the MOEX Russia Index to fall by up to 1% at the opening into the range of 2,155–2,220, but believes that the local benchmarks can bounce back later in the day.

The market will also be driven by releases of financial reports by metals giant Norilsk Nickel, grocery retailer X5 Retail Group, and power producers Enel Russia and Unipro.

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