Russian stocks to fall in line with oil prices, global stocks

MOSCOW, Aug 13 (PRIME) -- Russian stocks are projected to decrease at the opening on Monday amid falling oil prices and a negative foreign background, analysts said.

“We expect a negative opening of the MOEX Russia Index with a decrease of around 0.5%, in the range of 2,260–2,265 points. The nearest support levels will be 2,250 and 2,240 points. The resistance will be at 2,280 and 2,290 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 by 0.6%, Brent oil futures lost 0.25%, gold futures fell 0.2%, Japan’s Nikkei225 edged down 1.7%, and Hong Kong’s Hang Seng dropped 1.65%.

Olma senior analyst Anton Startsev said the downward correction at the RTS index may deepen at the start of trading today. “The outlined outflow of capital from the developing markets on the whole does not so far allow speaking about a soon recovery of growth.”

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