Russian stocks may fall pressured by low oil, negative backdrop

MOSCOW, Sep 16 (PRIME) -- The Russian stock market is likely to decrease at the opening on Friday under the influence of the oil price falling and trading around U.S. $91 per barrel and a negative state of the global floors, analysts said.

“The Russian stock market may try and continue to increase (after yesterday’s closing) today, but a strong drawdown on the energy resources market will contribute to active sales and the restart of negative dynamics,” Bogdan Zvarich, senior analyst at financial platform Banki.ru, said.

The MOEX Russia Index is likely to retreat to the range of 2,420–2,440, he said.

The moods on the global floors are negative in the morning, with the leading Asian floors losing about 1.5% and the futures on the U.S. main stock indices falling 0.7%. The next Brent oil futures is making an attempt to recover, with a 0.3% increase to $91.1 per barrel.

PSB Bank’s senior analyst Vladimir Solovyov said that the MOEX Russia Index is likely to be held in the range of 2,400–2,450 amid weakening demand for blue chips in the conditions of a negative external background.

The news flow with include a monetary policy meeting of Russia’s central bank, where it may reduce the key rate again, as well as the publication of inflation in the E.U.

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