Russian stocks can ease as US futures, oil demonstrate no growth

MOSCOW, Jan 13 (PRIME) -- The Russian stock market can ease on Monday at the start of the trading session because the U.S. stock market futures and oil prices are stalling, analysts said.

“The futures for the U.S. indices have been rising by about a fourth today in the morning but they are still below the previous closing. That’s why we expect opening of Russian trading with a small downward gap,” Alor Broker analyst Alexei Antonov said.

Antonov said that the oil prices were not rising, which will also bar an increase of the Russian market. Ruble strengthening might continue to hold down growth of the stock market.

According to Finam analyst Sergei Drozdov, the support level for the MOEX Russia Index stands at 3,100 and 3,080. The resistance notch is 3,130–3,150. The local support level for the RTS index stands at 1,602 and 1,597, and resistance at 1,620–1,637.

Drozdov said that this week investors will focus on signing of a U.S.–China trade agreement when China’s Deputy Prime Minister Liu He is to arrive to Washington. They will also pay attention to a starting reporting season in the U.S.

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