Russian stocks to rise on US–China talks news, OPEC+ deal hopes

MOSCOW, Dec 6 (PRIME) -- The Russian stock market will likely grow on Friday morning on recent trade statements by U.S. President Donald Trump and news from the OPEC plus nonmember deal sides’ summit, analysts said.

“Chances are there will be an increase today in the morning: the U.S. stock market grew after our closing, the American futures added as well. The futures for the key Russian indices added about 0.3% in the evening session. We are waiting for opening of the Russian market with an up to 0.4% rise,” Alexei Antonov, analyst at Alor Broker, said.

Mikhail Poddubsky, senior analyst at Promsvyazbank, said that the foreign markets recovered after losses of the start of the week on Wednesday and Thursday as Trump added to the optimism saying the U.S.-China talks are moving along very well.

According to Antonov, OPEC member states made a surprising decision to cut oil output quotas in the OPEC plus nonmember deal by 500,000 barrels per day. However, the non-member sides of the deal could leave the quotas as is and limit themselves to a positive rhetoric.

Antonov said that the Russian market demand would be concentrated in the companies that will soon see interim dividend cutoffs.

Gazprom can remain under pressure from the threat of new sanctions against the Nord Stream-2 gas pipeline and the absence of a transit deal with Ukraine. Antonov said that Gazprom’s shipments to Europe could slump if a compromise with Ukraine is not found and it is unclear whether the Russian gas company would have to pay compensations to the Western consumers for it.

End