Russian stocks to open in red zone on foreign mkts’ pessimism

MOSCOW, Sep 4 (PRIME) -- The Russian stock market will start the Friday’s trading session lower, reflecting a downbeat mood on other markets, analysts said.

“The MICEX will reflect the deterioration of the external background in the first minutes of trade,” Vitaly Manzhos, senior analyst at Bank Obrazovanie, said.

Oil prices rose on Thursday but on Friday at 9.20 a.m., Moscow time, they fell 0.85% to U.S. $50.25 per barrel. The U.S. stock market futures fell in the morning, Japan’s Nikkei 225 slid 2.15% at 9.32 a.m. in Moscow.

Some nervousness remains ahead of a U.S. Federal Reserve System (Fed) meeting on 16-17 September, Anton Soroko, analyst at Finam, said.

The MICEX will open at about 1,705, and the RTS will decrease, Oleg Shagov, senior analyst at investment company Solid, said. The MICEX will later consolidate, he said.

Russian traders will pay attention to the U.S. jobs data release in the evening, because the Fed is expected to base its interest rate decisions on these data as well, Shagov said.

Oil futures’ dynamics will also largely define the trends on Friday, Manzhos said.

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