Russian stocks seen decreasing as US state debt talks continue
MOSCOW, May 26 (PRIME) -- The Russian stock market will likely open with a downward gap on Friday in the morning amid an uncertainty surrounding the U.S. state debt negotiations, analysts said.
"The headlines concerning the negotiations on the (U.S.) state debt between the Republicans and the Democrats remain in focus of attention. Investors are nervous over the uncertainty in… the negotiations, which pushes them out of risky assets into the U.S. dollar. The deal might be struck on the very last day," BitRiver financial analyst Vladislav Antonov said.
Oil prices decreased on Thursday, after the U.S. dollar strengthened and Russia's Deputy Prime Minister Alexander Novak said that OPEC+ was not expected to take new steps during a meeting on June 4, Antonov said. On Friday in the morning, the Brent blend traded at U.S. $76.
Bogdan Zvarich, senior analyst at financial platform Banki.ru, said that since the prices remain below the Thursday closure level, the pressure on the Russian stock market will likely remain at the start of the session.