Russian stocks may rise on better background, high oil prices

MOSCOW, Dec 3 (PRIME) -- Russian stocks may grow at the opening on Monday amid an improved foreign background and growing oil prices, analysts said.

“We expect the MOEX Russia Index to open with a strong increase of around 1.5–2%, in the range of 2,430–2,440 points. The nearest support levels will be 2,400 and 2,390 points. The main resistance will be 2,450 and 2,460 points,” Vitaly Manzhos, senior risk manager at Algo Capital, said.

Before the start of trading in Russia, the U.S. stock index futures are demonstrating a strong increase of 2% on average, Japan’s Nikkei225 grew 1%, and Hong Kong’s Hang Seng added 2.7%.

Brent oil futures added 5% as leaders of the U.S. and China agreed to suspend introduction of new mutual import duties for 90 days, Manzhos said.

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