Russian stocks seen neutral on mixed foreign background

MOSCOW, Nov 6 (PRIME) -- Russian stocks are expected to open neutrally on Tuesday amid a mixed foreign background and the lack of major drivers, analysts said.

“We expect the MOEX Russia Index to open with a moderate change within 0.3%, in the range of 2,370–2,385 points. The nearest support levels will be 2,370 and 2,360 points. The main resistance will be at 2,390 and 2,400 points,” Algo Capital’s senior risk manager Vitaly Manzhos said.

After the neutral start, the MOEX Russia Index may switch into consolidation in anticipation of significant stimuli for directional movement amid a mixed foreign background, the analyst said.

Before the start of trading in Russia, the U.S. stock index futures are demonstrating moderate mixed dynamics, Brent oil futures lost 0.4%, gold futures fell 0.1%, Japan’s Nikkei225 rose 1.1%, and Hong Kong’s Hang Seng lost 0.3%.

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