Russian stocks may grow backed by oil, improved background

MOSCOW, Aug 14 (PRIME) -- Russian stocks may increase at the opening on Tuesday backed by growing oil prices and improved foreign background, analysts said.

“We expect a positive opening of the MOEX Russia Index with a significant increase of up to 0.5%, in the range of 2,295–2,300 points. The nearest support levels will be 2,280 and 2,270 points. The main resistance will remain at 2,310 and 2,320 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 growing 0.3%, Brent oil futures added 0.25%, gold futures rose 0.2%, Japan’s Nikkei225 grew 2.02%, while Hong Kong’s Hang Seng lost 1.45%, the analyst said.

Olma senior analyst Anton Startsev said the RTS index may grow at the start of trading on Tuesday. “Under data of the technical analysis a pause in the reduction is necessary to avoid formation of ‘oversold.’ Meantime, the situation on foreign markets does not so far allow us to fix the resumption of a stable growth,” he said.

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