Russian stocks seen falling ahead of US Fed meeting report

MOSCOW, Dec 13 (PRIME) -- The Russian stock market will likely decrease on Wednesday at the start of the trading session on the back of falling foreign markets and investors’ anticipation of a report after a meeting of the U.S. Federal Reserve System (Fed), analysts said.

“The ultimate influence of key external factors that have a significant impact on the Russian financial market is moderately negative today at the start of the day in our estimates,” Oleg Shagov, head of the investment company Solid’s research department, said.

The Brent oil price decreased to about U.S. $63.9 per barrel as investors are waiting for publication of the U.S. reserves data. U.S. stock market futures are slightly falling. Key Asian markets are mixed, the European premarket is signaling a small decrease later in the day at the session start, Shagov said.

According to Olma senior analyst Anton Startsev, investors are likely to reduce their activity ahead of release of a report after a meeting of the Fed. The U.S. key rate will almost certainly rise and market participants will pay more attention to comments by the authority.

Shagov said that the MOEX Russia Index can open at about 2,155 and can consolidate. Startsev said that the RTS will likely stop its earlier increase at 1,150.

Shagov said that Russia’s OFZ government bond placement auctions on Wednesday will reveal the current interest by non-residents in ruble assets in the condition of new sanctions risks.

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