Russian stocks seen neutral amid closure of Europe, US markets

MOSCOW, Dec 25 (PRIME) -- Russian stocks may open neutrally on Wednesday amid no major drivers, as the U.S. and European markets will be closed for Christmas holidays, analysts said.

“We expect the MOEX Russia Index to open with an insignificant change of 0.1–0.3%, near the level of 3,030 points. The nearest support levels will be 3,020 and 3,010 points. The main resistance will be at 3,040 and 3,050 points,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The key stock markets in Europe and the U.S. will be closed on Wednesday due to Christmas. Oil futures are not trading as well. “That’s why the local stock market will be isolated from the external background and will be left to its own devices. This creates conditions for a neutral opening of the MOEX Russia Index,” Manzhos said.

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