Russian stocks seen edging down ahead of Fed protocol publication

MOSCOW, Oct 13 (PRIME) -- The Russian stock market will likely edge down at opening on Wednesday ahead of publication of a U.S. Federal Reserve System (Fed) meeting protocol, while consolidation of oil prices will likely support marginal dynamics, analysts said.

"The external background before the start of trade in Russia looks moderately negative. The Asian stock markets ease as well as the S&P 500 futures and oil prices," Oleg Syrovatkin, leading analyst at Otkritie Investment’s global research department, said.

Oil remains near its highs supported by high global gas prices, the global energy crisis and the approaching winter, Syrovatkin said.

According to Andrei Vernikov, head of the investment analysis and education department of investment company Univer Capital, the market will open flat.

Syrovatkin said that the U.S. Fed will publish the protocol of the last meeting after the closure of the Russian trading session, and since the Fed’s comments had become more severe, investors will look for hints at further policies, including the time of the stimuli cut.

End