Economics
Russian Stocks May Rally 21%, BCS Says
- RTS index can advance to 930 points in the next 12 months
- Muted economic recovery will limit rebound in equities
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Russia’s benchmark stock gauge, one of the most volatile in the world, may rise 21 percent over the next year in dollar terms as valuations already reflect the worst of the country’s economic crisis, according to BCS Financial Group.
The RTS Index can advance to 930 in the next 12 months after tumbling 45 percent in 2014 as a rout in oil and sanctions related to the Ukraine conflict weighed on the Russian economy. The dollar-denominated benchmark fell 1.6 percent to 769.38 on Thursday, widening its decline this year to 2.7 percent.