Russian stocks seen down dragged by foreign floors, falling oil

MOSCOW, Jul 10 (PRIME) -- Russian stocks are projected to decrease at the opening on Friday dragged by negative dynamics of global floors and falling oil prices, analysts said.

“Today, the external background suggests that in the morning the decline will continue. The coronavirus topic has again come to the fore in the absence of reasons for growth. As a result, before our opening, the U.S. futures are falling slightly less than 1%, oil is falling. So at the opening of trading, losses on our shares may be about 0.5%,” Alor Broker chief analyst Alexei Antonov said.

Olma senior analyst Anton Startsev said the U.S. stock indices closed in minus, the U.S. stock index futures are trading below the level of Thursday’s close, European indices closed in minus, most Asian indices are falling.

“A downward correction on the RTS index is possible at the start of trading today under the influence of the foreign background. Statements from two large Chinese funds with state participation about plans to reduce positions on shares became a reason for a decrease in activity of buyers from non-Asian stock exchanges. Meanwhile, in the U.S., for the second day in a row, an increase in the number of new cases of COVID-19 was recorded, which was close to a record, in some states there was a sharp increase in the number of deaths per day, which makes investors recall the increased uncertainty in forecasting economic indicators and financial indicators of companies,” Startsev said.

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