Russian stocks to open lower following worsening global environ

MOSCOW, Aug 20 (PRIME) -- The Russian stock market is likely to edge down at the opening and continue to fall later in the day on Thursday following negative sentiments on the global markets, analysts said.

“The external background looks negative ahead of the trading session on the Russian stock market. Oil and industrial metals are trading lower. Asian markets are demonstrating significant losses due to risks of a failure of a trade agreement between the U.S. and China, and weak possibilities of new stimuli in the nearest future,” Otkritie Broker analyst Andrei Kochetkov said.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the MOEX Russia index to open around 0.2–0.6% lower within a 3,040–3,050 range and to continue downward movement into a 3,030–3,040 range later in the day due to a worsening global environment.

Olma senior analyst Anton Startsev said that the RTS index is also likely to correct down following foreign bourses.

Investors in Russia may be interested in a slew of IFRS financial results releases for April–June by meat producer Cherkizovo Group, oil company Gazprom Neft, grocery producer Magnit, metals miner Norilsk Nickel, and shoe retailer Obuv Rossii.

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