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Surging fossil fuel prices lifts Russian shares to record highs
Surging fossil fuel prices lifts Russian shares to record highs.
By Rony Abboud
0
- Russia
- Oil & Gas
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Russian stocks continue to breach record highs, pulled by surging oil and gas prices. MOEX, the benchmark Russian index have risen around 30% this year led by heavyweight gainers Gazprom (Natural Gas giant, +84.61%), Rosneft (Oil giant, +49.07%) and Sberbank Rossi (State Owned Bank, +40.2%).
In the ETF space, VanEck Vectors Russia ETF (RSX), one of the largest Russian equities ETFs with $1.48 billion in assets rose by +28% year-to-date. iShares MSCI Russia ETF (ERUS) followed suit with +30.48% gains during the same period.
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