Russian stocks to decrease in line with oil prices, global floors

MOSCOW, Sep 2 (PRIME) -- Russian stocks are projected to fall at the opening on Monday as oil prices continue to decrease and negative dynamics prevail on foreign floors, analysts said.

“We expect the MOEX Russia Index to open with a significant decrease within 0.3–0.5%, near the level of 2,725–2,730 points. The nearest support levels will be 2,720 and 2,710 points. The main resistance will be at 2,740 and 2,750 points,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The U.S. stock index futures are falling by 0.4–0.7%, Brent oil prices lost 0.5%, China’s Shanghai Composite added 1.3%, and Japan’s Nikkei225 edged down 0.3%, he said.

End