Russian stocks may fall to mirror negative foreign background

MOSCOW, Jun 29 (PRIME) -- The Russian stock market may open slightly lower amid a generally negative external background, and start to consolidate later in the day on Tuesday, analysts said.

“We expect the MOEX Russia Index to edge down modestly, by 0.1–0.4%, to 3,810–3,820... In the first minutes of trading, the index will mirror worsening of the external background, seen in the morning, and it is likely to consolidate later in the day,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The main U.S. stock indices are falling around 0.2%, the Brent oil price and the gold price are also losing 0.2%. Asian benchmarks are seen 0.6–0.9% lower, he added.

Local investors will track news from a meeting of the OPEC+ technical committee, and annual general meetings of shareholders of Federal Grid Company of Unified Energy Systems (FGC UES), realty developer Samolet, Commercial Port of Vladivostok, and financial holding Otkritie.

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