Salient to Investors:

  • Sam Vecht at BlackRock says Russian stocks are very cheap, carry a high dividend yield, and earnings downgrades are absent. BlackRock’s Emerging Europe Trust was 50 percent invested in Russian stocks at the end of May.
  • JPMorgan upgraded Russian stocks in June,
  • The Micex is at 5.6 times estimated earnings, the lowest of 21 emerging markets.
  • A Bloomberg survey forecasts Russian economic growth of 0.5 percent for 2014.

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