Russian stocks to fall as oil, foreign indices decrease

MOSCOW, Oct 29 (PRIME) -- The Russian stock market will shed at the opening of the Friday’s trading session on the back of new record lows of oil and on decreases at foreign floors, analysts said.

“The external background at the opening of the Russian trading session is still negative – oil has continued the downward trend, U.S. indices were slightly positive, European stock exchanges closed moderately negative,” Platon Maguta, senior manager at Fond Maguta managing company, said.

Brent oil traded at U.S. $63.48 per barrel as of 9.33 a.m. Moscow time.

In spite of a positive closing of the U.S. indices on Thursday, futures were in the negative zone on Friday morning, which is another negative factor for the Russian stock market, Nord-Capital analyst Vitaly Manzhos said.

The MICEX will open at about 1,485, and the support zone will stand at about 1,500–1,515, Manzhos said.

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