Russian stocks may grow on oil prices, positive background

MOSCOW, Apr 26 (PRIME) -- Russian stocks may grow at the opening on Thursday backed by improvement of moods on the oil market and positive foreign background, analysts said.

“We expect a positive opening of the MOEX Russia Index with a moderate increase of around 0.3–0.5%, in the range of 2,260–2,265 points,” Vitaly Manzhos, a senior risk manager at investment company Nord Capital, said. The nearest support levels will be 2,250 and 2,240 points, while 2,270 and 2,280 points will act as resistance, he added.

The MOEX Russia Index can further grow to 2,270–2,280 points later in the day, he said.

Prior to the opening of the Russian stock market, the U.S. stock index futures are growing by up to 0.4%, Brent oil futures rose 0.6%, Japan’s Nikkei225 added 0.5%, and Hong Kong’s Hang Seng lost 0.8%.

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