Russian stocks may rise on oil price rebound, foreign background

MOSCOW, Aug 16 (PRIME) -- Russian stocks may increase at the opening on Thursday amid a resumed oil price growth and a moderately favorable foreign background, analysts said.

“We expect the MOEX Russia Index to open with a noticeable increase of around 0.5%, around the level of 2,280 points. The nearest support levels will again be 2,260 and 2,250 points. The main resistance will remain at 2,290 and 2,300 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 growing 0.5%, Brent oil futures added 0.65%, Japan’s Nikkei225 is balancing on the verge of positive and negative deviation, and Hong Kong’s Hang Seng lost 0.4%, the analyst said.

Olma senior analyst Anton Startsev said that consolidation in the area above 1,050 points on the RTS index is possible in the short term. “The suspension of the weakening of the Turkish lira and the announcement of a forthcoming visit of China’s deputy minister of commerce to the U.S. for talks contribute to easing investor fears regarding emerging markets, while currently available information on possible U.S. sanctions against Russia has mostly been taken into account in quotations of high liquidity securities,” he said.

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