Russian stocks may fall dragged by oil price drop, foreign floors

MOSCOW, Mar 30 (PRIME) -- Russian stocks are expected to decrease at the opening on Monday dragged by a drop in oil prices and negative dynamics on global floors, analysts said.

“We expect the MOEX Russia Index to open with a decrease of 1–2%, in the range of 2,350–2,380 points. The nearest support levels will be 2,340 and 2,320 points. The main resistance will be at 2,400 and 2,430 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 demonstrating a slight increase, Brent oil futures dropped 5.7%, China’s Shanghai Composite fell 0.8%, and Japan’s Nikkei225 lost 3.2%, the analyst said.

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