Russian stocks may rise amid growing oil, global floors

MOSCOW, Jan 13 (PRIME) -- Russian stocks may increase at the opening on Wednesday backed by oil price growth and positive dynamics on global floors, analysts said.

“We expect the MOEX Russia Index to open with growth of 0.2–0.5%, in the range of 3,480–3,490 points. The nearest support levels will be 3,460 and 3,450 points. The main resistance will be at 3,500 and 3,520 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 moderately growing by 0.1–0.3%, Brent oil futures added 1.2%, China’s Shanghai Composite remained almost flat, and Japan’s Nikkei225 rose by 1.2%, the analyst said.

Alor Broker analyst Alexei Antonov said, “In general, the foreign background before our opening looks good: the U.S. futures added about 0.2%, oil soared by 1.3%, trading at about U.S. $57.3 per barrel. Therefore, yesterday’s scenario – growth in the first hours of trading and subsequent gradual decline – may be repeated.”

Olma senior analyst Anton Startsev said, “Today, at the beginning of trading, an increase in the RTS index is possible on the back of rising energy prices and the weakening of the U.S. dollar on the global currency market.”

End