Russian stocks to fall in line with oil prices, global floors

MOSCOW, Sep 3 (PRIME) -- The Russian stock market may edge down at the opening on Tuesday due to a modestly negative foreign background with the main U.S. benchmarks futures and oil prices seen in the red territory, analysts said.

“We expect the MOEX Russia Index to open with a marginal fall of around 0.3% near a 2,765 mark… The benchmark is likely to consolidate during the day while waiting for the opening of the U.S. stock market, which was closed for a public holiday yesterday,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The external environment is moderately negative with the major U.S. indices future seen lower, he added.

Vadim Kravchuk, analyst at investment company Solid, said that the Brent oil price is trading at around $58 per barrel and may continue falling on the news OPEC can increase production in the near future.

Investors will also follow publication of financial results for January–June by U.K. Highland Gold Mining (HGM), which operates in Russia, among other corporate events.

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