Unfavorable global mood may drive Russian stocks down at opening

MOSCOW, Feb 21 (PRIME) -- The Russian stock market will likely open lower pressured by a discouraging foreign environment on Wednesday, analysts said.

“The RTS is likely to edge down at opening. The global market sentiment remains unstable, including the oil market. The U.S. VIX volatility index is again over a 20 mark… which means investors’ readiness to bear risks is low,” Olma senior analyst Anton Startsev said.

Oleg Shagov, head of investment company Solid’s research department, said he expects the MOEX Russia Index to open down at nearly 2,265 amid a moderately negative external background with the main U.S. indices futures trading in the red territory and the Asian markets seen mixed.

Shagov also said that the Brent oil price is consolidating at $64.7 per barrel waiting for the U.S. crude stocks statistics which may demonstrate a rise for a fourth consecutive week according to forecasts.

In Russia, investors may also be interested in independent gas producer Novatek’s IFRS financial report for 2017.

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