Russian stocks seen sliding as UK voters choose Brexit

MOSCOW, Jun 24 (PRIME) -- The Russian stock market may open with a downward gap on Friday amid global market turbulence as the majority of the U.K. voters have decided to leave the E.U., analysts said.

“A decline is possible today in the start of the trade. The U.K. ended up voting for leaving the E.U., giving reasons for investors to revise risk assessment, which reflected in a decline on stock and commodities exchanges, a strengthening of the U.S. dollar to the currency basket and growth of precious metals’ prices, seen as a protective asset,” Olma senior analyst Anton Startsev said.

U.S. stock market futures are decreasing on Friday in the morning, key Asian markets are demonstrating negative dynamics. The European premarket strongly suggests a slide at the opening of the session, all these factors will make for a downbeat trading start in Russia, Oleg Shagov, head of investment company Solid’s analytical department, said.

In these conditions, the MICEX can sink below 1,900, Shagov said. The daily dynamics will depend on the foreign market trends and oil price fluctuations, he said.

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