Russian stocks to dive at opening on negative environ, falling oil

MOSCOW, Oct 11 (PRIME) -- The Russian stock market will likely plummet considerably at opening on Thursday amid a clearly negative foreign environment, analysts said.

“A tough Thursday is expected on the Russian stock market as the external environment has worsened… The U.S. storm in both direct and figurative meanings will shake the global capital market with the Russian market being no exclusion,” Alpari senior analyst Anna Bodrova said.

FxPro analyst Alexander Kuptsikevich said that the U.S. benchmarks on Wednesday saw the largest sales this year triggered by statements of the International Monetary Fund’s head that the current stock prices are extremely overestimated.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, said that the MOEX Russia Index may edge down 1–1.5% to a 2,380–2,390 range at opening additionally pressured by the Brent oil futures losing around 1.5% to below U.S. $82 per barrel.

The global background is “extremely negative” he added.

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