Shares in Russia Boosted by Rise in Oil Prices
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Market Vectors Russia ETF (NYSE: RSX) is higher by 2.62 percent today, as shares on the Micex Index climbed 2.2 percent.
Russia budget revenue is 50 percent comprised of oil and gas, and the move in Russia was in-line with a rally in both commodities. According to the Federal Statistics Service in Moscow, Russia’s economy grew 4.8 percent in the first quarter, but analyst don't think this level of growth is sustainable.
OAO Mechel (NYSE: MTL), the country's biggest coking-coal producer, jumped on bets U.S. policy makers' efforts to stimulate growth will boost commodities.
OAO Rosneft moved higher after President Vladimir Putin called on Chief Executive Officer Igor Sechin to boost the company’s dividend, says Bloomberg.
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Russia budget revenue is 50 percent comprised of oil and gas, and the move in Russia was in-line with a rally in both commodities. According to the Federal Statistics Service in Moscow, Russia’s economy grew 4.8 percent in the first quarter, but analyst don't think this level of growth is sustainable.
OAO Mechel (NYSE: MTL), the country's biggest coking-coal producer, jumped on bets U.S. policy makers' efforts to stimulate growth will boost commodities.
OAO Rosneft moved higher after President Vladimir Putin called on Chief Executive Officer Igor Sechin to boost the company’s dividend, says Bloomberg.
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