Russian stocks seen falling on foreign markets, oil price losses

MOSCOW, Mar 25 (PRIME) -- The Russian stock market will likely decrease on Monday morning due to a decline of foreign market indices and oil prices, analysts said.

“A summary made by U.S Prosecutor General from a report by (Special counsel Robert) Mueller voiced last weekend is quite favorable for the Russian market , no reasons have been found to present claims against President Donald Trump under a case of possible Russian meddling into the pre-election process,” Olma senior analyst Anton Startsev said.

“But global reduction of investors’ willingness to take risks can be a more significant factor influencing the market than the U.S. investigation outcome.”

Vitaly Manzhos, senior risk manager at investment company Algo Capital, said that the U.S. stock market futures fell by 0.4–0.7%, before the start of trade in Russia. Brent futures fell 0.6%, gold futures added 0.3%. Japan’s Nikkei225 sagged 3%, the Hang Seng lost 1.7%.

Vadim Kravchuk, analyst at investment company Solid, said that investors are worried about deteriorating prospects of the U.S.–China trade negotiations, and weak U.S. statistics, especially state debt.

Manzhos said that as a result, the MOEX Russia Index is to lose 0.3–0.5% to 2,480–2,485. The nearest support levels are 2,470 and 2,460, and resistance is seen at 2,500–2,510. After the start of trade, the index can head to a 2,470 level.

According to Startsev, downward correction of the RTS can deepen.

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