Russian stocks may rise on global floors growth, oil rebound

MOSCOW, Mar 20 (PRIME) -- Russian stocks may increase at the opening on Friday amid positive dynamics on global floors and an oil price rebound, analysts said.

“We expect the MOEX Russia Index to open with an increase of around 0.5–1%, in the range of 2,285–2,300 points. The nearest support levels will be 2,270 and 2,250 points. The main resistance will be 2,320 and 2,350 points,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The U.S. stock index futures are growing by 0.1–0.6%, Brent oil futures rose 1.2%, China’s Shanghai Composite increased 0.5%, while the Japanese market is closed.

Olma senior analyst Anton Startsev said consolidation near the level of 900 points on the RTS Index is possible in the short term. “Nervousness on global stock markets is decreasing, but volatility indicators remain at levels corresponding to crisis periods, uncertainty regarding the extent and timing of the impact of coronavirus on the economy continues to impede the resumption of sustainable growth on stock markets,” he said.

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