Russian stocks may sag on oil price below $60, strong US stats

MOSCOW, Mar 10 (PRIME) -- The Russian stock market may decrease at Tuesday opening because oil prices were below the U.S. $60 per barrel level in the morning, while strong U.S. labor market statistics published March 7 scared traders with possibility of monetary policy’ tightening, analysts said.

“A downward correction is possible today at the start of the trading, under pressure of the external background. Brent price was down, below the psychological notch of $60 per barrel throughout the long weekend, the situation on global stock markets worsened…,” Olma’s senior analyst Anton Startsev said.

On Tuesday in the morning, Brent price started to consolidate at $58.56, it rose 0.05% at 9.10 a.m. Moscow time.

Strong U.S. labor market statistics published March 7 was a reason for global investors’ pessimism because of fears that the country’s Federal Reserve System will raise the interest rate in 2015, Startsev said.

Only the U.S. warehouse stock data and the retail Redbook index will be of interest for investors on Tuesday, Andrei Dirgin, head of Alfa-Forex analytical department, said.

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