The half time report of global stock markets lists a rare guest among top performers. With Russianstocks investors could have earned a whopping 28 percent in dollar terms. The main factorsbehind 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 benevolentWhite House additional sanctions also look unlikely for the moment, so investment sentimentmight improve further. On the other side, Russia faces a global slowdown with potentiallyenormous consequences for the still energy focused economy which should remind investors thatwith Russia at the table stakes are always high..
MVIS Russia Index versus MVIS Russia Small-Cap Index
Source: MV Index Solutions.
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