Russian stocks seen down in line with global floors, oil prices

MOSCOW, May 19 (PRIME) -- The Russian stock market is projected to decrease at the opening on Wednesday pressured by negative dynamics on global floors and falling oil prices, analysts said.

“We expect the MOEX Russia Index to open with a decrease within 0.2–0.5%, in the range of 3,670–3,680 points. The nearest support levels will be 3,650 and 3,640 points. The main resistance will be at 3,690 and 3,700 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 falling within 0.3–0.5%, Brent oil futures lost 1.2%, China’s Shanghai Composite decreased 0.5%, and Japan’s Nikkei225 edged down by 1.6%, the analyst said.

End