Russian stocks may grow on positive foreign background

MOSCOW, Nov 9 (PRIME) -- Russian stocks may increase at the opening on Monday backed by positive dynamics of global floors and rising oil prices, analysts said.

“We expect the MOEX Russia Index to open with an increase within 0.5–1.5%, in the range of 2,910–2,940 points. The nearest support levels will be 2,900 and 2,890 points. The main resistance will be at 2,950 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 growing within 1.4–2.7%, Brent oil futures rose by 2.4%, China’s Shanghai Composite increased by 2.0%, and Japan’s Nikkei225 went up 2.4%, the analyst said.

Olma senior analyst Anton Startsev said, “An increase of the RTS index is possible at the start of trading today. The completion of the counting of electoral votes showed the victory of Joe Biden in the presidential elections in the U.S. -- the election results (although not recognized by Donald Trump) create conditions for the restoration of investors’ willingness to accept risk amid reducing uncertainty.”

End