Russian stocks may rise on oil price growth, foreign background

MOSCOW, Sep 10 (PRIME) -- Russian stocks may grow at the opening on Monday amid a moderately positive foreign background and rising oil prices, analysts said.

“We expect the MOEX Russia Index to open with a moderate increase of up to 0.3%, in the range of 2,325–2,330 points. The nearest support levels will again be at 2,310 and 2,300 points. The main resistance will remain at 2,340 and 2,350 points,” Vitaly Manzhos, a senior risk manager at investment company Algo Capital, said.

After the moderately positive start of trading, the MOEX Russia Index may move into consolidation in expectation of new significant signals for directional movement, he said.

Before the opening of the Russian stock market, the U.S. stock index futures are moderately growing up to 0.15%, Brent oil futures added around 0.5%, gold futures lost 0.2%, Japan’s Nikkei225 increased 0.2%, and Hong Kong’s Hang Seng lost 1.2%.

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