MOSCOW, Oct 2 (PRIME) -- Russian stocks may decrease at the opening on Wednesday amid a moderately negative foreign background, analysts said.
“A downward correction on the RTS Index may deepen at the start of trading today,” Olma senior analyst Anton Startsev said.
The index of business activity in the U.S. manufacturing sector ISM Manufacturing PMI fell to 47.8 points in September, the minimum value in around 10 years, which caused a surge in volatility on the U.S. stock market and may negatively affect demand on emerging markets, the analyst said. ADP data on the U.S. employment is expected to be published later on Wednesday and may also affect investor expectations, he added.
The U.S. stock indices decreased by 1.1–1.3%, the U.S. stock index futures are trading above the closing levels recorded on Tuesday. European stock indices closed in minus, and Asian indices are also showing downward dynamics, the analyst said.
Otkritie Broker analyst Andrei Kochetkov said that the foreign background is slightly negative before the start of trading in Russia. “However, the negative is expressed only in a decrease in Asian indices. Rising commodity contracts with a relatively weak ruble may support the export sectors of the domestic market. Moreover, a further deterioration in statistics in the U.S. and other regions hints at the continuation of the cycle of easing monetary policy in the world, which is positive for a highly profitable ruble,” he said.
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