Russian stocks may fall on moderately negative background

MOSCOW, Oct 14 (PRIME) -- The Russian stock market may edge down at the opening on Wednesday thanks to a worsened external background including a moderate decrease on Asian stock exchanges and declining crude, analysts said.

“There are no reasons to expect a reversal of (yesterday’s) sentiment and a rise in the trading activity. We expect a calm opening (on the Russian stock market) with a moderate decrease of the main indices,” investment company Finam analyst Alexei Kolachyov said.

The external background does not look optimistic ahead of the trading session. Asian markets are seen in the negative territory, as well as the Brent oil price that is trading 0.42% lower at around $42.27 per barrel, he also said.

Olma senior analyst Anton Startsev said that worsening of the external background may impact investors’ mood negatively, but a deep correction of the RTS index does not look like the most probable scenario.

He added that corporate reports will remain the major driver of the markets in the nearest future.

Investors in Russia are likely to follow a slew of operating results releases for July–September by largest children goods retailer Detsky Mir and realty developer Etalon.

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