Stocks to change moderately amid falling oil, rising global floors

MOSCOW, Apr 27 (PRIME) -- Russian stocks are projected to moderately change at the opening on Monday amid a mixed foreign background, analysts said.

“We expect the MOEX Russia Index to open with a moderate change within 0.5–1%, in the range of 2,540–2,590 points. The nearest support levels will be 2,520 and 2,500 points. The main resistance will be 2,600 and 2,620 points,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

The oil futures dynamics will continue to be the main external guidance for participations of the Russian market, he said.

The U.S. stock index futures are rising 1.0–1.3%, Brent oil futures fell 3.8%, China’s Shanghai Composite grew 0.7%, and Japan’s Nikkei225 added 2.8%.

Promsvyazbank chief analyst Bogdan Zvarich said, “Despite the decline in the energy market, purchases in our securities may prevail, which will allow the Moscow Exchange to regain part of April 24’s losses and catch up to 2,600 points. At the same time, during a short trading week, we do not rule out attempts to resume the downward trend and the market to retreat to the range of 2,300–2,500 points.”

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