Russian stocks may drop on falling global floors, oil prices

MOSCOW, Sep 4 (PRIME) -- Russian stocks may significantly decrease at the opening on Friday dragged by negative dynamics of global floors and falling oil prices, analysts said.

“We expect the MOEX Russia Index to open with a significant decrease of 0.4–0.8%, in the range of 2,910–2,920 points. The nearest support levels will be 2,900 and 2,880 points. The main resistance will be 2,930 and 2,940 points,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

Before the start of trading in Russia, the U.S. stock index futures are falling by 0.2–1.1%, Brent oil futures lost 0.8%, China’s Shanghai Composite decreased 1.2%, and Japan’s Nikkei225 also edged down by 1.2%, the analyst said.

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