Russia took the 1st place among the BRICS countries from a position of attractiveness for investors, shifting from this line of China, writes on the basis sociologicheskogo research analysts. The analysts polled Last news , tend to be more cautious in their own assessments.
If at the beginning of the year investors have intuitively avoided the Russian market due to the volatility in the oil market and an unstable exchange rate, over the past 7 months the situation has changed, writes Bloomberg. Review Agency, Russian stocks remain undervalued, but they have the opportunity to bring a significant profit, If the economic risks will decrease.
"Value recovery of oil from six-year lows increased the attractiveness of Russian assets," - emphasizes the Agency, adding that in China at the same time was the flight of investors from assets, which is determined by $ 4 trillion.
"It all depends on what scenario you lay as a base, that is, whether the Ukrainian conflict in which two or more solved the foreseeable future and will decrease the political risks, or is the story the long haul," said Fins news Chief economist at ING in Russia and CIS Dmitry Polevoy. He Also stresses that the market of the Russian Federation of shares will be depending on the pace of recovery in the economy.
"Cheapness cheapness, but it does not speak about the fact that this factor can be adjusted fairly quickly. We cannot exclude the scenario where the stock will continue to trade cheaply simply because of geopolitics, due to the General weak wealth of the economy or slow recovery, " adds the expert.
Chief analyst at Nordea Bank Dmitry Savchenko stressed that the dynamics of the Russian market, When measured for the period from January this year, was impressive, especially When you take into account the Recovery of the ruble." Fundamentally the market of the Russian Federation can be considered undervalued When compared on individual multipliers with other developing platforms. However, most of the potential may already be played out, " He adds.
"First, the potential of increasing crude oil is often uncertain, with current grades. The potential of the ruble remains limited for many reasons. In the end, you should not expect the global flow of funds from investors to the Russian stock market, which will continue to suffer undeservedly, and geopolitical factors, " says Savchenko.
some experts highlight that investors should consider each Russian company separately, and not to look at the state of the market in General.