MOSCOW, Feb 22 (PRIME) -- The Russian stock market may correct down at the opening and consolidate later in the day on Friday as oil prices and foreign stock indices are seen in the negative territory, analysts said.
“The RTS index may correct at the opening pressured by the external background. The global stock exchanges’ sentiment looks less confident as the U.S. and Europe have released weak economic data and the anticipated favorable effect of a trade agreement between the U.S. and China has already been priced in to the quotations,” Olma senior analyst Anton Startsev said.
The technical analysis points to the possibility of a downward movement of the RTS within a broad long-term trend channel if the benchmark fails to consolidate above a 1,200 mark, Startsev also said.
Vitaly Manzhos, senior risk manager at investment company Algo Capital, expects the MOEX Russia Index to open with a marginal change of below 0.3% at around 2,470 and consolidate later.
The U.S. indices futures, Asian markets and the Brent oil price are seen 0.1–0.2% lower, he added.
Investors will also follow publication of grocery retailer Lenta’s financial results for 2018 and October–December and results of a meeting of oil major Rosneft’s board of directors to discuss development plans for Erginskoye, Russkoye, Yurubcheno-Tokhomskoye oilfields among other corporate events.
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