Russian stocks seen higher amid positive foreign background

MOSCOW, Nov 25 (PRIME) -- Russian stocks are projected to open higher on Wednesday amid a moderately positive foreign background, analysts said.

“We expect the MOEX Russia Index to open with an increase of 0.1–0.4%, in the range of 3,100–3,110 points. The nearest support levels will be 3,090 and 3,080 points. The main resistance will be at 3,120 and 3,140 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 by 0.1–0.4%, Brent oil futures rose 0.6%, China’s Shanghai Composite fell 0.8%, and Japan’s Nikkei225 added 0.8%, the analyst said.

Olma senior analyst Anton Startsev said, “An increase on the RTS index is possible at the beginning of trading today due to an improvement in the external background – expectations of an early start of production of vaccines against coronavirus turned out to be more important for traders than the current negative impact of social restrictions on economic activity.”

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