Russian stocks may open down on oil price, foreign floors fall

MOSCOW, Dec 18 (PRIME) -- The Russian stock market is likely to open considerably lower and may consolidate later in the day on Tuesday thanks to a negative global environment, analysts said.

“We expect the MOEX Russia Index to open significantly lower, by around 0.4–0.6%, within a 2,345–2,350 range… The index may start to consolidate following the negative start. Yesterday’s relative stability of the market gives us hope that sales will be not very aggressive this morning,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The U.S. major indices futures are seen moderately higher, while Asian markets and the Brent oil futures slid 1.1–1.7%, he added.

Olma senior analyst Anton Startsev said that the RTS index’s correction will deepen at the start of the trade session due to the external background pressure.

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