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Russian stocks to fall at opening on negative environment

MOSCOW, May 3 (PRIME) -- Russian stocks are likely to contract at ThursdayТs opening following WednesdayТs fall of the U.S. indices, analysts said.

УTaking into account the weak closing of the U.S. stock market yesterday, the background prior to the start of trade in Russia may be seen as moderately negative,Ф Vitaly Manzhos, a senior risk-manager at investment company Nord Capital, said.

УWe expect a moderately negative opening of the MOEX Russia Index with an about 0.3% fall close to a 2,300 mark. The levels of 2,290 and 2,280 will become the closest support, while 2,310 and 2,320 will act as resistance.Ф

Alor broker Alexei Antonov said that the U.S. Federal Reserve System (Fed) maintained its rates, but noted an increase in prices and forecasted inflation at the baseline rate of 2% in the mid-term. Traders perceived it as a higher probability that the Fed would raise the rates four times this year, which led to sales in U.S. shares.

УAs a result, the U.S. stock induces lost 0.72% yesterday, and futures for the indices are close to zero today. It would be logical to suppose that Russian stocks will price in the dynamics of the U.S. market at the opening of the national market and show a 0.3Ц0.5% decrease,Ф Antonov said.

Manzhos also said that local investors will track oil prices during the day, and some statistics releases may have an impact on trade in the evening, including U.S. releases of March jobless claims and industrial orders.

End

03.05.2018 09:42
 
 
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