By Marcus Williams
Investment bank Troika Dialog has slashed it 2010 target for the RTS index 1,600 from 2,000 due to concerns over Russia's dependence on oil prices and uncertainty over global economic growth.
The dollar-benchmarked RTS index is trading lower by 1.5 percent at 1333 as of 3pm today in Moscow.
Analysts said Russia would remain tightly correlated to the oil price while concerns about developed markets distracted investors from Russia's own good underlying marco story.
The brokerage expects the oil price to remain below $70-$80 per barrel until 2011. Crude was trading at $72 today after falling yesterday on concern that a US recovery is not on track.
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