Russian stocks may fall on US Fed’s key rate decision

MOSCOW, Sep 27 (PRIME) -- The Russian stock market will likely correct down on Thursday due to global pessimism following the U.S. Federal Reserve’s key rate decision, analysts said.

“The Russian stock market will continue downward movement amid generally negative dynamics on the global stock exchanges which ignored the expected decision of the U.S. Federal Reserve to raise the key rate,” Forex Club analyst Ivan Marchena said.

Olma senior analyst Anton Startsev said that the RTS index may keep on correcting down.

Alor Broker analyst Alexei Antonov said that the market is more likely to react to negative news than to positive due to persisting overheating.

Startsev also said that the local market will be backed by strong oil with the Brent oil price consolidating at around U.S. $81.6 per barrel.

Russian traders will also follow January–June International Financial Reporting Standards (IFRS) financial results released by realty developer Etalon Group.

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