Russian stocks to fall on disappointment from US Fed decision

MOSCOW, Dec 20 (PRIME) -- The Russian stock market may edge down at opening on Thursday as the U.S. Federal Reserve’s decision to increase the key rate disrupted investor appetite for risk, analysts said.

“The overall weakness of all risky assets on the global markets may return the MOEX Russia index to the levels of the beginning of the week. The 2,300–2,350 range looks like the most probable for the present moment,” Promsvyazbank analyst Mikhail Poddubsky said.

Olma senior analyst Anton Startsev said that the RTS index is likely to correct down at the beginning of the trade session as the U.S. Federal Reserve’s decision to raise the key interest rate by 0.25 percentage points triggered a negative response of the U.S. market and resulted in a lowering risk appetite worldwide.

Russian traders will also follow International Financial Reporting Standards (IFRS) financial results for July–September and January–September released by mobile operator MegaFon, and results of meetings of the boards of directors of truck maker Kamaz and oil major Rosneft.

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