Russian stocks to fall as oil prices sink, Syriza wins in Greece

MOSCOW, Jan 26 (PRIME) -- The Russian stock market will see a decline at Monday opening because oil prices went down, while investors believe that European stocks will be volatile after the Sunday’s victory of the Syriza party in Greece, analysts said.

“The Russian stock market will open with a decline today. The consolidation of the U.S. stock market indices and the decrease of oil quotations at the commodities market will contribute to an up to 0.5% gap at the opening,” Denis Khripushin, analyst at 2trade.ru, said.

Brent price fell 0.90% to U.S. $48.35 as of 9.07 a.m. Moscow time. In the U.S., the S&P 500 decreased 0.55% and the Dow Jones tumbled 0.79% at the trading session’s closure on January 23.

“The volatility on the European trading floors may increase on the back of announcement of Greece’s parliamentary elections results. Under preliminary estimates, oppositional party Syriza may occupy almost a half of parliamentary seats, which threatens nonfulfillment of agreements between Greece and the troika,” Olma’s senior analyst Anton Startsev said.

The stark tensions in the east of Ukraine may trigger another wave of sanctions against Russia, investors are bearing in mind this, Promsvyazbank’s analysts Ilya Frolov and Yevgeny Loktyukhov said.

No important statistics releases were scheduled for Monday, so the Russian stock market trends will depend on the oil and U.S. stock futures’ dynamics, Vitaly Manzhos, analyst at Nord-Capital, said.

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