The half time report of global stock markets lists a rare guest among top performers. With Russian stocks investors could have earned a whopping 28 percent in dollar terms. The main factors behind those gains are potentially enduring and could therefore extend the rallye.

The pickup in oil prices may be sustainable at least with respect to the efforts of the supply side, after OPEC+ just reached a deal to extend output cuts another nine month. With a say benevolent White House additional sanctions also look unlikely for the moment, so investment sentiment might improve further. On the other side, Russia faces a global slowdown with potentially enormous consequences for the still energy focused economy which should remind investors that with Russia at the table stakes are always high..

MVIS Russia Index versus MVIS Russia Small-Cap Index

Source: MV Index Solutions.

About the Author:

Christian Kastner is a financial writer and analyst. He covers the world of investing since the beginning of the decade and teamed up with some well known figures of Germany's financial universe along the way.

The article above is an opinion of the author and does not necessarily reflect the opinion of MV Index Solutions or its affiliates.