Russian stocks to fall dragged by oil prices, global floors

MOSCOW, May 29 (PRIME) -- Russian stocks may moderately decrease at the opening on Wednesday dragged by falling oil prices and negative dynamics on global stock floors, analysts said.

“We expect the MOEX Russia Index to open with a moderate decrease of around 0.3–0.4%, around the level of 2,600 points. The nearest support levels will be 2,590 and 2,580 points. Main resistance will be 2,620 and 2,630 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 falling within 0.2–0.5%, Brent oil futures lost 0.7%, China’s Shanghai Composite rose 0.7%, and Japan’s Nikkei225 edged down 1.3%, the analyst said.

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