Russian stocks likely to fall at opening on oil price decrease

MOSCOW, Jan 10 (PRIME) -- The Russian stock market is likely to decline on Tuesday at opening over falling oil prices and closing long positions, analysts said.

“Today, against the backdrop of worsening situation on the energy market and possible decrease of appetite for risky assets on the world markets, we expect sales in Russian shares to intensify. This will lead to compensation for yesterday's growth and return the market to the area of 2,150 points,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

This movement may provoke closing of long positions, which, in its turn, will increase pressure on the Russian shares, the analyst added.

According to Zvarich, the closest Brent crude oil futures were down 0.6% retreating to U.S. $79.2 per barrel.

BitRiver financial analyst Vladislav Antonov said that the market is expected to decline to 2,150 points. Buyers “are seemed not to be ready to continue the rally” and might start closing long positions in shares, he added.

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