Russian stocks may fall on mixed background, dividend gaps

MOSCOW, May 31 (PRIME) -- The Russian stock market will likely decrease at the opening on Monday amid a mixed foreign background and upcoming dividend gaps in shares of Norilsk Nickel and Severstal, analysts said.

“We expect the MOEX Russia Index to open with a decrease within 0.2–0.6%, in the range of 3,710–3,725 points. The nearest support levels will be 3,700 and 3,680 points. The main resistance will be at 3,740 and 3,750 points,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

“After opening with some decline under the influence of dividend gaps, the MOEX Russia Index is likely to move into a consolidation state. This is facilitated by the mixed morning state of the external background. An additional factor in its stabilization can be the fact that the stock market in the U.S. will be closed today,” the analyst said.

Before the start of trading in Russia, the U.S. stock index futures are rising within 0.1%, Brent oil futures added 0.6%, China’s Shanghai Composite fell 0.2%, and Japan’s Nikkei225 lost 0.9%.

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