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IBDvalueinvestin (98.35)

Investors Optimistic On Russian Potential the



May 20, 2009 – Comments (1) | RELATED TICKERS: MBT , ROS , MTL

Investors turned to Russian stocks on Tuesday on optimism for economic improvement. Related QuotesSymbolPriceChangeCTCM9.98+0.23MBT37.10+2.19MTL9.72+0.83ROS50.45+1.10VIP12.08+0.87{"s" : "ctcm,mbt,mtl,ros,vip","k" : "c10,l10,p20,t10","o" : "","j" : ""}

Some analysts are turning bullish on Russian stocks as oil prices rise and financial issues appear to subside. According to Reuters, Bank of America's Michael Hartnett thinks Russia's oil prices were holding Russian companies down. The analyst is telling clients that there is a "huge upside" if oil crosses the $60 mark. Crude is near Hartnett's magic number, currently trading above $58 a barrel.

As a whole, the Russian Stocks and ADRs Index up by 2%. It has outperformed the S&P 500 by 5.2% over the last month, and every company in the Index has rebounded by more than 100% from 52-week lows.

Leading the Index in performance today is Moscow-based telecom company Vimpel-Communications (NYSE: VIP - News). The stock is outperforming its peers, up 6%. Competitors Mobile Telesystems (NYSE: MBT - News) and Rostelecom (NYSE: ROS - News) are up by 1.5% and 1% respectively.

Oil giant OAO Gazprom (OTC: OGZPY - News), steel and coal player Mechel OAO (NYSE: MTL - News), and Wimm-Bill-Dann Foods (NYSE: WBD - News) are all up by more than 2%.

Lukoil (OTC: LUKOY - News) and JSC MMC Norilsk (OTC: NILSY - News) are both up over 1%.

The sector's daily performance laggard is CTC Media (NASDAQ: CTCM - News). Deutsche Securities downgraded the company to Hold from Buy yesterday. The stock is down -6%.

As of this writing, Russia Stocks and ADRs Index is one of the top-3 tickerspy International Indexes by both daily and weekly performance. On a monthly basis its 10.4% gains land it in the middle of the pack.

Investors can follow the Russian Stocks and ADRs Index and view related performance charts and metrics at

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1 Comments – Post Your Own

#1) On May 20, 2009 at 1:23 PM, IBDvalueinvestin (98.35) wrote:

MTL called a 3 Bagger:

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