NEWSWATCH: “Russia Rallies: 1.3% GDP Growth, $55 Oil, World Bank Says; The Russian ruble is strengthening today on solid economic growth targets from the World Bank” – Barrons/ Dimitra DeFotis

World Bank Building

“Russia’s economy can expand at a 1.3% pace in 2017 and by 1.4% in 2018 and 2019, the World Bank said …. The ruble is strengthening … up 0.7% against the U.S. dollar, and Russian equities are rallying in Moscow. The VanEck Vectors Russia exchange-traded fund (RSX) is higher by 0.5% … as are the U.S.-traded shares of Sberbank Rossia (SBRCY). Moody’s Investors Service projected slightly higher GDP growth of 1.5% this year and next, but maintained its junk rating on Russian government bonds Monday. * * * … The 25th of May, Thursday, is the date OPEC is expected to extend oil production cuts, with cooperation from non-member Russia.”

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