JRL NEWSWATCH: “Russian Stocks Seen Rising 25% by Mid-2020” – Reuters

File Photo of Outdoor Electronic Sign with Russian Exchange Data

“… [impacted by] the price of oil, Russia’s key export, and fading fears of more Western sanctions …. Russian stock indexes achieved their biggest gains year-to-date in mid-July. The dollar-based RTS had risen nearly 33% back then and its rouble-based peer MOEX was up 21%. Russia’s largest gas producer Gazprom gained nearly 68% year-to-date earlier in July, while the country’s biggest bank Sberbank had year-to-date gains of more than 34% in mid-June. Since mid-July, stocks have given up some of these gains. On Wednesday, the RTS index was 26% higher compared with late 2018, and the MOEX was up 14% year-to-date.”

One commentator noted that while, in the past, U.S. and European investors have played a key role in Russian investment, investors are now becoming more diverse, such as those from the Middle East and Russia itself.

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