Russian stocks may rise on positive foreign background, oil growth

MOSCOW, Jun 26 (PRIME) -- Russian stocks may increase at the opening on Friday supported by positive dynamics of Western exchanges and growing oil prices, analysts said.

“We expect the MOEX Russia Index to open with a significant increase of 0.3–1.0%, in the range of 2,770–2,790 points. The nearest support levels will be 2,760 and 2,750 points. The main resistance will be 2,800 and 2,820 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 0.15%, Brent oil futures grew 1.5%, Japan’s Nikkei225 added 1.1%, while the Chinese market is closed.

Olma senior analyst Anton Startsev said, “Consolidation of the RTS Index is likely to continue in the short term. The results of stress tests of the U.S. banking system published by the Federal Reserve System turned out to be relatively favorable (banks remain capitalized even in the most negative scenario), but the Fed imposed restrictions on banks repurchasing their own shares and paying dividends in the current quarter.”

Promsvyazbank chief analyst Bogdan Zvarich said the oil market went into consolidation and the nearest futures for Brent oil maintain the position near U.S. $41.5 per barrel.

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