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

MOSCOW, Nov 29 (PRIME) -- Russian stocks are expected to decrease at the opening on Friday amid negative dynamics on global floors and falling oil prices, analysts said.

“The foreign background before the start of trading in Russia is negative. Asian indices are decreasing, oil is falling, as well as industrial metals. The MOEX Russia Index will most likely try to approach the level of 2,900 points at the beginning of the day,” Otkritie Broker analyst Andrei Kochetkov said.

Olma senior analyst Anton Startsev said, “The stock market will likely remain under pressure of the foreign background at the start of trading today, there are no grounds for completing the correction-consolidation phase of the RTS Index yet. The uncertainty regarding the trade deal between the U.S. and China remains the limiting factor for investors, we can expect the market to remain sensitive to any news that could affect the prospects of the deal.”

The U.S. stock index futures are trading slightly below the levels of Wednesday’s close. European stock indices closed in a moderate minus, and Asian indices are also correcting downwards, the analyst said.

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