Russian stocks may open neutrally amid mixed background

MOSCOW, Jul 18 (PRIME) -- Russian stocks may open neutrally on Wednesday amid a mixed foreign background and falling oil prices, analysts said.

“We expect the MOEX Russia Index to open with an insignificant change, around the level of 2,310 points. The levels of 2,300 and 2,290 points will act as nearest support, and the levels of 2,320 and 2,330 points will again act as main resistance,” Vitaly Manzhos, a senior risk manager at investment company Nord Capital, said.

Before the start of trading in Russia, the U.S. stock index futures are growing by 0.1%, Brent oil futures lost 0.4%, Japan’s Nikkei225 added 0.7%, and Hong Kong’s Hang Seng rose 0.2%, Manzhos said.

Olma senior analyst Anton Startsev said the RTS index may remain under pressure in the short-term due to the uncertain situation on the oil market, as well as negative influence of the U.S. dollar’s strengthening on demand on developing stock markets.

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