Russian stocks may rise in line with global floors, oil prices

MOSCOW, May 7 (PRIME) -- The Russian stock market may moderately increase at the opening on Friday backed by oil price growth and rising global floors, analysts said.

“We expect the MOEX Russia Index to open with a moderate increase within 0.2–0.5%, in the range of 3,665–3,675 points. The nearest support levels will be 3,650 and 3,640 points. The main resistance will be at 3,680 and 3,700 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 rising within 0.3%, Brent oil futures added 0.2%, China’s Shanghai Composite grew 0.4%, and Japan’s Nikkei225 added 0.2%.

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