Russian stocks may fall in line with global floors, oil prices

MOSCOW, Jan 15 (PRIME) -- Russian stocks are projected to decrease at the opening on Friday dragged by falling oil prices and negative dynamics on global floors, analysts said.

“We expect the MOEX Russia Index to open with a decline of around 0.2–0.5%, in the range of 3,475–3,485 points. The nearest support levels will be 3,460 and 3,450 points. The main resistance will remain at 3,490 and 3,500 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 0.4–0.6%, Brent oil futures eased 0.7%, China’s Shanghai Composite lost 0.5%, and Japan’s Nikkei225 fell 0.1%, the analyst said.

Olma senior analyst Anton Startsev said, “Today, at the beginning of trading, a downward correction in the RTS index is possible following the global stock indices. The measures to support the U.S. economy announced by Joe Biden suggest the possibility of increasing the tax burden for some companies, some of the measures will require the votes of Republican senators – one way or another, the president-elect’s speech became a reason for the suspension of growth on stock markets in general.”

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