Pavilion Forecasts Micex Drop as Russian Stocks Resume Oil Link

Updated on
  • Micex index has risen 22% this year as Brent crude slid 16%
  • Russia relies on oil and gas for about half its budget revenue

The rally in Russian stocks traded in Moscow probably won’t last much longer as the benchmark index re-establishes its correlation with oil, which has plunged to less than half its five-year average price, according to Pavilion Global Markets Ltd.

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