Russian stocks may fall pressured by global pandemic uncertainty

MOSCOW, Dec 22 (PRIME) -- The Russian stock market is likely to be pressured by a negative external background on Tuesday with core global stock indices seen in the negative territory and the Brent oil price consolidating lower at around U.S. $50 per barrel, analysts said.

“The external background looks moderately negative for the Russian stock market… From the technical point of view, the MOEX Russia Index left the upward channel that had been forming since the beginning of November,” investment company Finam analyst Alexander Kovalyov said.

Asian markets are demonstrating negative dynamics, the main U.S. indices futures are losing around 0.5%, and the Brent oil price is consolidating around 0.5% lower, just above the $50 per barrel mark.

Olma senior analyst Anton Startsev said that the technical analysis data point to further correction of the RTS index as well.

Local investors will also track news from the meeting of the board of directors of gas giant Gazprom that is to consider preliminary 2020 results, 2021 budget and investment plans.

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