Russian stocks may fall on lower oil, worsened foreign background

MOSCOW, Aug 15 (PRIME) -- Russian stocks may slightly decrease at the opening on Wednesday amid a decline in oil prices and a moderately worsened foreign background, analysts said.

“We expect the MOEX Russia Index to open with an insignificant decline of around 0.2–0.3%, near the level of 2,280 points. The nearest support levels will again be 2,270 and 2,260 points. The main resistance will remain at 2,300 and 2,310 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 moderately falling by 0.2%, Brent oil futures decreased 0.2%, gold futures fell 0.5%, Japan’s Nikkei225 edged down 0.7%, and Hong Kong’s Hang Seng lost 1.6%, the analyst said.

Olma senior analyst Anton Startsev said that sales may resume at the start of trading due to worsening of the foreign background. “Investors on global markets are again worried about aggravation of relations between the U.S. and Turkey and prospects of development of “trade wars.”

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