Russian stocks seen falling on foreign markets', oil price decrease

MOSCOW, Aug 24 (PRIME) -- The Russian stock market may start Wednesday's trading session lower as the foreign markets and the oil prices fall, analysts said.

"Speaking about the market mood on Wednesday morning, it can be characterized as negative. The leading Asian floors lost up to 1.3%. The South Korean market, adding 0.4%, is an exception. The key U.S. futures retrench by 0.2%. The nearest Brent futures correct downwards by 0.4% and trading close to U.S. $99.8 per barrel after yesterday’s growth," Bogdan Zvarich, senior analyst at financial platform Banki.ru, said.

According to the analyst, the market fears a sharp key rate increase in the U.S. in September, while the business activity indices for Europe and the U.S. added to the pessimism signaling an overall deceleration of activity.

Georgy Vashchenko, head of investment company Freedom Finance’s department for trade operations on the Russian stock market qualified Tuesday’s global markets’ mood as mostly positive, as the oil prices managed to return to $100.

Zvarich said that this oil price milestone may trigger recovery on the Russian market later in the day, and the MOEX Russia Index may consolidate above 2,260 and strive towards 2,350.

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