Russian stock futures slumped and OAO Mechel declined for a third day on mounting concern China’s slowing economy may crimp demand for commodities.
Share offerings by Russian companies will pick up in the second half as oil above $100 and the Moscow bourse’s introduction of a central depositary lures foreign investors, the head of Troika Dialog’s U.S. unit said.
Russian stocks traded in New York posted the longest run of declines since at least 2005 after commodities erased this year’s gains and oil retreated for a second week.
Russian stocks dropped for a second day as flows into equity mutual funds slowed, spurring bets gains are overdone.
"People are hesitant to buy."
- Chris Osborne on Apr 10, 2014