Russian stocks may fall on negative foreign background

MOSCOW, Mar 22 (PRIME) -- The Russian stock market may decline at the opening on Monday dragged by the negative foreign background, analysts said.

The sentiment on global markets on early Monday is negative, Promsvyazbank chief analyst Bogdan Zvarich said. Sales in risky assets prevail. The bulk of Asian stock floors are falling, the U.S. stock index futures are consolidating around the levels of March 19’s close, energy markets are demonstrating a moderate decline, but the nearest futures for Brent oil manage to hold the position above U.S. $64 per barrel, he said.

“Taking into account the foreign background, we expect the predominance of sales in Russian shares at the beginning of the session. As a result, the MOEX Russia Index may retreat below 3,450 points. In the future, attempts at corrective recovery and winning back some of the losses by the market are possible. At the same time, within the current week, we see the risks of a retreat of the MOEX Russia Index to the lower border of the range of 3,400–3,500 points,” Zvarich said.

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