Russian stocks seen falling after missiles hit Poland

MOSCOW, Nov 16 (PRIME) -- The Russian stock market will likely decrease at the opening of Wednesday's trading session after two missiles hit the territory of Poland boosting geopolitical uncertainty, analysts said.

"The Russian stocks can find themselves under pressure today again. Growth of geopolitical risks that will make investors reduce shares in their portfolios may cause sales. As a result, the MOEX Russia Index will test the level of 2,200, the closest resistance point," Bogdan Zvarich, senior analyst at financial platform Banki.ru, said.

Two missiles stroke the territory of Poland on Tuesday evening with the Foreign Ministry saying that the missiles were produced in Russia, while Russia said that a provocation took place. The G7 leaders convoked an urgent meeting on the issue.

According to BitRiver financial analyst Vladislav Antonov, the absence of recovery on the Russian stock market after statements by the Defense Ministry that Russia was not responsible for the strikes signals continuation of Wednesday’s downward correction.

Zvarich said that the global markets mood in the morning was moderately negative. The leading Asian floors were mixed, the key U.S. stocks futures consolidated near Tuesday's closing levels. The nearest Brent futures lost 0.7% to U.S. $93.3 per barrel in spite of a report by the American Petroleum Institute (API) indicating a significant decrease of the U.S. reserves.

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