Russian stocks may grow amid moderately positive background

MOSCOW, May 28 (PRIME) -- Russian stocks may slightly grow at the opening on Tuesday amid a moderately positive foreign background, analysts said.

“We expect the MOEX Russia Index to open with a moderate increase of around 0.3%, near the level of 2,640 points. The nearest support levels will be 2,530 and 2,620 points. Main resistance will remain at 2,650 and 2,660 points,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

Before the start of trading in Russia, the U.S. stock indices are rising 0.2–0.5%, Brent oil futures added 0.2%, China’s Shanghai Composite grew 0.8%, and Japan’s Nikkei225 added 0.4%.

Olma senior analyst Anton Startsev expects the RTS Index to continue growth at the start of trading.

“Judging by the dynamics of stock indices, European traders considered the results of elections to the European Parliament favorable (the factor of reducing uncertainty), and the risks of escalation of ‘trade wars’ between the U.S. and China for a while receded into the background. However, the situation on developing markets does not yet look positive enough to ensure the overcoming of the psychologically important level of 1,300 points on the RTS Index,” he said.

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