Russian stocks to open neutrally on mixed foreign background

MOSCOW, Nov 7 (PRIME) -- Russian stocks may open neutrally on Wednesday amid a mixed foreign background and falling oil prices, analysts said.

“We expect the MOEX Russia Index to open with an insignificant change within 0.3%, in the range of 2,405–2,420 points. The nearest support levels will be 2,410 and 2,400 points. The main resistance will be at 2,430 and 2,450 points,” Algo Capital’s senior risk manager Vitaly Manzhos said.

Oil futures dynamics may be the main external indicator for participants of the Russian stock market in the second half of the day, the analyst said.

Before the start of trading in Russia, the U.S. stock index futures are demonstrating a moderate increase within 0.3%, Brent oil futures lost 0.2%, gold futures rose 0.3%, Japan’s Nikkei225 grew 0.2%, and Hong Kong’s Hang Seng lost 0.1%.

End