Russian stocks seen falling slightly ahead of holidays

MOSCOW, Dec 28 (PRIME) -- The Russian stock market will likely edge down at opening on Wednesday as investors are wary of purchases ahead of holidays due to political uncertainty, analysts said.

"The external background today can be called weakly negative: oil is traded with almost no changes, while metals have started to get cheaper. Including gold that has failed to consolidate above U.S. $1,820 per Troy ounce," Alor Broker senior analyst Alexei Antonov said.

According to the analyst, large investors have already suspended purchases before the New Year holidays, and the chances of extreme deterioration of the geopolitical situation do not favor purchases, he said.

The prohibition to sell oil to the states where the price limit is applied was an expected measure and did not affect the prices. The risks of their decrease are linked with high COVID-19 contagion rates in China.

BitRiver financial analyst Vladislav Antonov said that the MOEX Russia Index may consolidate at 2,135 on Wednesday.

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