Russian stocks seen falling after Moscow terminates grain deal

MOSCOW, Oct 31 (PRIME) -- The Russian stock market will likely decrease on Monday at the start of the session after Moscow terminated the grain deal, analysts said.

"Growing geopolitical tensions will create some fluctuations. Russia has announced suspension of the grain deal after an attack of Ukrainian drones on the Black Sea fleet and the city of Sevastopol," BitRiver financial analyst Vladislav Antonov said.

According to Antonov, a decrease of the U.S. stock market futures will likely contribute to the negative dynamics.

Andrei Kochetkov, leading analyst for global research at Otkritie Research, said that the Chinese statistics surprised investors with a significant decline of activity in October on the back of a policy of zero COVID-19 tolerance.

The oil prices were under pressure, as the market feared lower demand both in China and in Europe, which will also likely shape negative dynamics of the stock market in Russia on Monday, he said.

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