Russian stocks seen decreasing early on oil price fall

MOSCOW, Jan 30 (PRIME) -- The Russian stock market will likely open lower on Monday on the back of a decrease of oil prices and foreign markets, analysts said.

"Sales in our stocks can become more active today in the morning, taking into account the external background, which will compensate part of Friday's growth," senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

"However, if the oil price situation improves during the session, the bulls can seize the initiative and drive the market above the double resistance of a medium-term downward trend taking its start at maximums of last year's April and the level of 2,200."

According to the analyst, the external background for the start of the session is moderately negative, as the leading Asian markets demonstrated mixed dynamics, the key U.S. futures corrected downwards by up to 0.4%, the nearest Brent futures fell by 0.4% to about U.S. $86 per barrel.

BitRiver financial analyst Vladislav Antonov said that Russia's ban on oil sales to foreign companies if a mechanism limiting the price is mentioned in a contract explicitly or implicitly did not hurt the market, because there is no clarity in application of the rule.

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