Russian stocks can shed as oil prices stop rising, US futures fall

MOSCOW, Sep 16 (PRIME) -- The Russian stock market will likely open with a downward gap on Thursday, because a growth of oil prices stopped, and U.S. futures decreased, analysts said.

"The external background in the morning is unfavorable for the continuation of growth. American futures have lost about 0.2% after yesterday's increase, almost all industrial and precious metals are in the red zone, oil prices have stopped rising. This is why, we will open with a small decrease, and after that, it will depend on the moods on global markets," Alor Broker senior analyst Alexei Antonov said.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, estimated the gap at the opening at 0.1–0.3% to 4,055–4,075. The levels of 4,050 and 4,030 will be the nearest support ones and the levels of 4,080 and 4,090 the resistance ones.

He said that despite a lack of growth, oil prices are close to a two-year maximum, which will support the Russian market to some extent, while a downward dynamics in Asia will have a negative impact.  

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