Russia: in from the cold

Article Abstract:

Russian share prices have risen in 1996 and could continue to perform well in 1997. There has also been interest in a Russian Eurobond issue. A number of major Russian companies are planning issues of American depositary receipts which have access to a broader range of international investors than local Russian shares. Moscow could also be included in the emerging market index of the International Finance Corporation. There are still problems facing Russia such as economic depression and deficiencies in tax revenue collection.

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Fortune-hunting in the wild east

Article Abstract:

Russian equities tend to involve high levels of risk, and returns may also be high. Investors have to assess whether to realise profits made from correctly forecasting a victory for Boris Yeltsin which has led to a share price rise. Long term investors may also be considering Russian equities. Caution is advised by Salomon Brothers since Russian equities are risky despite Yeltsin's win. Salomon Brothers and Morgan Stanley both see Russian equities as likely to perform well over the long term.

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Dangerous times

Article Abstract:

Russian share prices have risen in 1996 and 1996 and have been helped by the reappearance of Boris Yeltsin after a heart operation. Anatoly Chubais, the new Russian finance minister, is seen as likely to promote economic reforms. Major reforms are needed to help attract capital and encourage economic growth. Some analysts see Russia's problems as too intractable and are also concerned about lack of transparency in the Russian stock markett.

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