Russian stocks not to change much amid weakly positive background

MOSCOW, May 27 (PRIME) -- Russian stocks are not expected to change much at the opening on Wednesday amid a weakly positive foreign background, analysts said.

“We expect the MOEX Russia Index to open with a moderate change within 0.5%, in the level of 2,740–2,765 points. The nearest support levels will be 2,720 and 2,700 points. The main resistance will be at 2,790 and 2,800 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 demonstrating an increase of around 0.6–0.8%, Brent oil futures lost 0.7%, China’s Shanghai Composite fell 0.1%, and Japan’s Nikkei225 added 0.8%, Manzhos said.

Alor Broker chief analyst Alexei Antonov said, “This morning, the external background is weakly positive. The U.S. futures are trading above our close, oil is still hanging around U.S. $36 per barrel. Given the lack of a desire for growth in our market, we are waiting for the opening of trading near yesterday’s close. Then growth attempts will prevail.”

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