Russian stocks seen almost neutral amid mixed background

MOSCOW, Sep 28 (PRIME) -- Russian stocks are not projected to change much at the opening on Monday amid a mixed foreign background, analysts said.

“We expect the MOEX Russia Index to open with a moderate change within 0.2–0.4%, in the range of 2,885–2,905 points. The nearest support levels will be 2,880 and 2,870 points. The main resistance will be 2,920 and 2,930 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 within 0.4–0.6%, Brent oil futures fell 0.8%, China’s Shanghai Composite rose 0.3%, and Japan’s Nikkei225 added 0.9%.

Olma senior analyst Anton Startsev said, “Some growth of the RTS index is possible at the start of trading today – the fears of investors on global stock markets were mitigated by relatively strong statistics on the profits of industrial enterprises in China (an increase of 19.1% year-on-year in August). At the same time, numerous uncertainties remain in force (the scale of restrictive measures, Brexit, sanctions risks, the U.S. elections), which prevents the restoration of a stable upward trend on stock markets.”

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