Russian stocks may rise amid improved moods on oil market

MOSCOW, Apr 13 (PRIME) -- Russian stocks may increase at the opening on Monday amid improved sentiment on the oil market, while the foreign background remains mixed, analysts said.

“We expect the MOEX Russia Index to open with an increase of 0.8–1.5%, near the level of 2,700–2,720 points. The nearest support levels will be 2,680 and 2,660 points. The main resistance will be at 2,740 and 2,750 points,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The U.S. stock index futures are falling by 1.3–1.5%, Brent oil futures grew 3.4%, China’s Shanghai Composite fell 0.7%, and Japan’s Nikkei225 edged down by 2.2%.

Otkritie Broker analyst Andrei Kochetkov said that trading on the Russian market will be held on Monday amid a reduced activity of participants due to Easter holidays in Europe.

“The OPEC+ deal removes some of the risks of falling indices and the weakening ruble. However, there is no reason to continue the growth, as the global economic downturn may be deeper than previously expected,” he said.

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