Russia May Be Risky, But You Can’t Afford To Ignore It – MoneyWeek

Perhaps,butevenwithoutaYukosrepeat,Russiaisfarfromrisk-free。

AsMorningstar’sNataliaSiklicpointsout,thepaceofeconomicreformhasslowedoflate,corruptionremainsaproblemandthestatehasbeensteppingupitsinterferenceintheeconomy;PresidentPutinrecentlyeffectivelyorderedstate-controlledgasgiantGazpromtomergewithanotherenergygroup。

Nonetheless,“it’shardtoignore”stocksonanaveragep/eofjusteight,saysWirtschaftswoche。

AllthreemajorratingsagencieshavenowupgradedRussiatoaninvestment-gradecreditrating。

OtherpluspointsincludeGDPgrowtharound6%,acceleratingbusinessspendingandthegradualemergenceofamiddleclass:consumptionexpandedby8。

2%year-on-yearinthefirstquarter。

AmongRussianstocksworthalook,accordingtoWirtschaftswoche,isMobileTelesystems(MBT,$36inNewYork),easternEurope’sbiggestmobilegroup;andNorilskNickel(NILSY,$67)a“well-managed”nickelandpalladiumminernowincreasinglyconcentratingongold

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