Russia Stock Rally Making Analysts Look Almost Bearish: Chart

The rally in Russia’s benchmark equity gauge has brought it in line with analysts’ predictions for where it will be a year from now. Before the Micex Index’s retreat in the past week or so, their forecasts saw it gaining as little as 2.4 percent, the least bullish since 2009 and down from 23 percent two months ago. Buoyed by recovering oil and the ruble’s rise, the gauge has jumped 16 percent since Jan. 15.

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