Russian stocks to open lower pressured by negative environment

MOSCOW, Nov 28 (PRIME) -- The Russian stock market is likely to open lower and continue the downward movement during the day on Thursday thanks to a negative global background and a holiday in the U.S., analysts said.

“We expect the MOEX Russia Index to edge down by around 0.2–0.4% to 2,920… thanks to a significant worsening of the external background. It may continue to fall into the 2,900–2,910 range later,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The U.S. market will be closed on Thursday due to the celebration of Thanksgiving Day so the influence of foreign investors on Russian stocks will be limited, he added.

Olma senior analyst Anton Startsev said that the RTS index will continue downward correction although there are still no reasons for significant movements.

The also said that Asian stock exchanges are seen falling discouraged by the U.S. President Donald Trump’s decision to support Hong Kong protesters.

The domestic market will also be driven by releases of IFRS financial reports for July–September and January–September by hydropower giant RusHydro and national flagship air carrier Aeroflot.

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