Russian stocks to fall at opening tracing US, Asian markets, oil

MOSCOW, Oct 28 (PRIME) -- The Russian stock market can fall at the opening on Friday in light of a generally negative foreign environment, analysts said.

“We expect the trading session in Russia to begin with a 0.2–1% fall of the MOEX Russia Index within the range of 2,145–2,160… The obviously worsened external background is to affect the benchmark that is to fall considerably at the opening,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The market is likely to consolidate later in the day in anticipation of the central bank’s scheduled key rate decision that is to be released at 1:30 p.m. Moscow time, he added.

BitRiver financial analyst Vladislav Antonov said that Russian investors expect the central bank to keep the rate unchanged at 7.5%, and that the main ideas, interesting for the market, will be announced by Chairwoman Elvira Nabiullina during a news conference.

Manzhos said that the main U.S. indices futures are losing up to 0.9%, the Brent oil price has decreased by 0.8%, as well as the Asian stock exchanges that are seen 0.8–1.5% lower. The global sentiment can be characterized as negative.

Antonov expects the ruble to continue consolidation within the range of 60.50–62.50 rubles per U.S. dollar.

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