Exchange traded funds (ETFs) tracking the energy sector were hit on Friday, after news emerged that the Organisation of Petroleum Exporting Countries (OPEC) and Russia are in discussions about increasing oil production once again in response to soaring prices.
ETF investors are piling out of Russian-focused exchange traded funds amid allegations from Vladimir Putin that the US is meddling with its upcoming presidential election.
Eastern European ETFs have delivered double-digit returns over the past year, with most countries in the region enjoying robust growth. However, investors are still staying away from the region, which could be due to their fears over Russia and the big part it plays in the broad Eastern Europe indices.