Russian stocks may fall on low oil, negative background

MOSCOW, Jan 30 (PRIME) -- Russian stocks may decrease at the opening on Tuesday amid a negative foreign background and falling oil prices, analysts said.

“We expect the Russian stock market to open at around 2,280 points at the MOEX Russia Index, assuming that amid unfavorable foreign background this stock indicator is capable of continuing reduction that prevailed in its dynamics for the past two trading days,” Oleg Shagov, head of the investment company Solid’s research department, said. On Monday, the MOEX Russia Index closed at 2,284.27.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, expects that the MOEX Russia Index will decrease 0.5–0.7% to around 2,270 points at the opening and may continue reduction to 2,250–2,260 points later in the day.

The foreign background is moderately negative prior to the opening of trading in Russia, Shagov said.

Brent oil futures are fluctuating around U.S. $69 per barrel remaining pressurized in expectation of publication of statistics data on the U.S. oil production, which can increase under preliminary forecasts.

The leading U.S. stock index futures are suffering losses, and main Asian stock indicators are mostly demonstrating downward dynamics.

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