Russian stocks seen edging up at opening on oil price growth

MOSCOW, Sep 1 (PRIME) -- The Russian stock market will likely gain a bit at Wednesday’s opening ahead of a meeting of the OPEC+ deal members in the wake of oil price growth, analysts said.

"Today, on the Knowledge Day, we will surely learn something new and interesting about the market. We knew in the morning that the Chinese market rose, like the U.S. stocks futures before the opening, this is why, we will see a small increase at the opening of our market," Andrei Vernikov, head of the investment reasearch and education department of investment company Univer Capital, said.

Alor Broker senior analyst Alexei Antonov said that the market will focus on the OPEC+ meeting, where the cartel will unlikely cut the earlier output rise target despite reports about a negative effect of a new coronavirus wave on demand, and the oil prices and oil shares will correct down.

Still, in the morning, the U.S. stocks futures added a bit, and the oil prices rose by about 0.7%, which shaped a slightly positive background for the beginning of the Russian session.

Vernikov said that the news that the Russian Finance Ministry will decide whether to introduce a floating mineral extraction tax on fertilizers by October can affect the local market.

Ukraine is trying to prevent the finish of Gazprom's Nord Stream-2 construction, which is worrying the market.

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