Russian stocks seen flat ahead of OPEC+ meeting

MOSCOW, Nov 30 (PRIME) -- The Russian stock market will likely open with marginal changes on Wednesday ahead of a meeting of the OPEC+ alliance on Sunday, and on the back of public unrest in China, analysts said.

"We expect one more day of consolidation on the Russian market, because the situation in the Chinese economy does not suggest growth of future foreign revenue of Russian exporters," Otkritie Research leading analyst for global research Andrei Kochetkov said.

The Chinese statistics for November was uninspiring, but new stimuli might be improve the situation, Kochetkov said. Protests in the key Chinese cities were caused by discontent with quarantine, rather than other political decisions, he said.

According to the reports of the Wall Street Journal and Reuters, the OPEC+ have no plans to cut oil output at the next meeting on Sunday. But Kochetkov said the removal of sanctions against Venezuela and rising production in Nigeria may make the alliance reduce the production.

The oil prices grew on Tuesday, after the American Petroleum Institute (API) reported a larger than expected decrease of the U.S. reserves, the analyst said.

Alor Broker senior analyst Alexei Antonov said that Lukoil was under pressure after reports that Italy would nationalize its refinery in Sicily.

Yandex is to be volatile on the lack of clarity about its capital split, the analyst said.

End