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

MOSCOW, Nov 25 (PRIME) -- Russian stocks may moderately increase at the opening on Monday on the back of positive dynamics of global floors and rising oil prices, analysts said.

“We expect the MOEX Russia Index to open with a moderate increase of around 0.2–0.3%, near the level of 2,955 points. The nearest support levels will be 2,940 and 2,930 points. The main resistance will be at 2,960 and 2,970 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 rising around 0.2–0.3%, Brent oil futures rose 0.2%, China’s Shanghai Composite grew 0.3%, and Japan’s Nikkei225 added 0.6%.

Olma senior analyst Anton Startsev said, “An increase of the RTS Index is possible at the start of trading today following global indices – market participants are again optimistic over prospects of a trade agreement between the U.S. and China, the basis for changing expectations was the promise of the Chinese side to increase fines for violation of intellectual property rights (the issue crucial for the U.S.).”

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