Russian stocks may open neutrally on mixed foreign background

MOSCOW, Feb 5 (PRIME) -- Russian stocks may open neutrally on Tuesday amid a mixed foreign background, analysts said.

“We expect the MOEX Russia Index to open with an insignificant change, around 2,520–2,530 points. Significant support will again be at 2,510 and 2,500 points. The nearest resistance will be at 2,540 and 2,550 points,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

Before the start of trading in Russia, the U.S. stock indices are demonstrating a moderate decrease within 0.2%, Brent oil futures grew 0.4%, Japan’s Nikkei225 edged down 0.3%, while the markets of China, Hong Kong, and South Korea are closed for regional holidays.

Olma senior analyst Anton Startsev said that from the position of the technical analysis, if the RTS Index consolidates above the level of 1,200 points, a noticeable upward movement is possible. “At the same time, the market does not so far have significant news reasons for an increase in turnover – there may be some lull in the short term in anticipation of trade negotiations between the U.S. and China, as well as the flow of corporate reports,” he said.

Among Russian companies, oil major Rosneft and steel maker Severstal are to release their corporate reports on Tuesday, Startsev said.

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