Russian stocks seen edging up early on rising US futures

MOSCOW, Dec 6 (PRIME) -- The Russian stock market will likely firm at opening on Monday as the U.S. futures rise, analysts said.

"The oil prices have changed marginally since Friday, the futures for the U.S. market opening are in the positive zone. A weak upward trend is possible in the first half of the day, but taking into account uncertainty of expectations from the negotiations between the Russian and U.S. leaders to be held later this week, we will hardly see aggressive buying today," Andrei Vernikov of Univer Capital said.

The analyst said that U.S. President Joe Biden spoke strongly about Russia, possibly, to take a good position for the negotiations. Biden said he expected a long and difficult conversation.

The Brent prices broke through a support level of U.S. $77.58 at the end of November on fears connected with the uncertainty about the new COVID-19 strain, Vernikov said. Copper and nickel are volatile.

Vitaly Manzhos of Algo Capital expects the MOEX Russia Index to open with a 0.2–1.0% increase on Monday. The support levels are estimated at 3.910 and 3,900, and the resistance at 3,960 and 3,970.  

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