Russian stocks seen rising in early trade as oil price edges up - Financial Wire - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Russian stocks seen rising in early trade as oil price edges up

MOSCOW, Nov 25 (PRIME) -- The Russian stock market may edge up at the start of ThursdayТs trading as the oil price firms, and the market will focus on the oil price because the U.S. stock markets will be closed for the Thanksgiving Day celebrations, analysts said.

УWe expect the MOEX Russia Index to open with a moderate increase of 0.1Ц0.5% in the range of 3,955Ц3,970. The levels of 3,950 and 3,930 will act as the closest support, while 3,980 and 4,000 will become the resistance,Ф Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.

УIn the first few minutes of trade, the MOEX Russia Index will price in a moderate improvement of the mood of the oil market.Ф

The Brent oil price gained 0.2% on Thursday morning, while the gold prices rose by 0.5%. The Shanghai Composite index lost 0.1%, and the Nikkei225 gained 0.8%. Since the U.S. stock market is closed, the Russian market will focus on the oil prices, Manzhos said.

Yevgeny Loktyukhov, head of the economic and sectorial research of Promsvyazbank, said that the MOEX Russia Index is likely to return to 4,000.

УA moderately positive mood is created at global markets on Thursday morning as the key Asian indices edge up together with the commodity markets. Due to the lack of significant news and a holiday in the U.S., we expect moderately positive dynamics of the stock markets to continue,Ф Loktyukhov said.

Georgy Vashchenko, head of Freedom FinanceТs department for trade operations on the Russian stock market, expected the market to show mixed dynamics at the beginning of the day. УIn spite of robust macro statistics reports, the external background is negative and will not provide support to the Russian market,Ф he said.

End %%md/jst%%

25.11.2021 09:35
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 84.4820 -0.4706 30 nov
USD 74.9818 -0.6055 30 nov
Stock Market Indices
1D 1W 1M 1Y
micex 3879.54 +1.80 18:51 29 nov
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 338.82 +3.93 19:12 29 nov
lkoh 6658.00 +4.46 19:12 29 nov
rosn 574.60 +3.50 19:12 29 nov
sber 316.90 +4.10 19:12 29 nov
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 84.6400 -0.4950 14:59 29 nov
USDTD 74.2500 -1.1800 17:44 29 nov