Russian stocks seen falling on oil price decline

MOSCOW, Nov 18 (PRIME) -- The Russian stock market will likely open lower on Friday due to a decrease of oil prices, analysts said.

"Speaking about the global market mood on Friday morning, it can be characterized as neutral. The leading Asian floors demonstrate mixed dynamics. The key U.S. futures consolidate near yesterday's closing. The oil price dynamics is the only negative factor. The nearest Brent futures decreased by 2.7% to U.S. $90.4 per barrel," Bogdan Zvarich, senior analyst at financial platform Banki.ru, said.

According to the analyst, deterioration of the fuel market situation will be the main negative factor for the Russian stock market pushing the MOEX Russia Index down to test the level of 2,200.

PSB Bank expert Yekaterina Krylova said that the global markets fell after statements by a U.S. Federal Reserve System (Fed) official that the key rate must rise to at least 5% in order to rein in inflation. Investors are also concerned with a possible Chinese recession with raging COVID-19 in the country and unfulfilled promises of regulatory ease.

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