The Russian leading stock index the dollar denominated Russia Trading System (RTS) has been largely range bound for most of the last four years trading between 1,000 and 1,200, but underneath at the corporate level a lot has been happening.
The various crises have caused a consolidation in many sectors and the rise in oil prices has also driven some spectacular recoveries. The best names have seen their shares double in value and Russia continues to pay the highest dividends in the world.
On top of this it is becoming increasingly clear that the US Federal Reserve bank has stopped its tightening cycle and will ease, which have created a “wall of money” that is headed back into the Emerging Markets.
Ben Aris, editor-in-chief of bne IntelliNews talks with Slava Smolyaninov, the chief strategist at BCS GM about some of the more interesting stories in the market including: Lukoil, Novatek, Gazprom, Sberbank, Tinkoff Bank and RusAl.
Ben Aris, bne IntelliNews editor-in-chief
Slava Smolyaninov, chief strategist, BCS Global Markets