Pavilion Forecasts Micex Drop as Russian Stocks Resume Oil LinkBy
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.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.