11.10.2021, 13:15
Non-residents have Invested $ 130 million in Russian Shares in a Week
Source: OREANDA-NEWS
OREANDA-NEWS. Foreign investors have spent a record amount of money on Russian stocks. Kommersant estimated that non-residents invested $130 million in securities for the week ending October 6. This figure is six times higher than the figure recorded a week earlier, and the best weekly result since the end of March.
The newspaper's data is based on a report by the investment bank BCS Global Markets. The shares of representatives of the raw materials industry are the most popular due to the rapid rise in oil and gas prices. First of all, foreigners became interested in the most liquid securities of Gazprom and LUKOIL. According to the Moscow Stock Exchange, the turnover with Gazprom shares at the end of the week amounted to more than 250 billion rubles — the highest figure in history. The amount of transactions with LUKOIL securities almost reached 50 billion rubles, and with ROSNEFT shares exceeded 61 billion rubles. This is 20 and 74 percent, respectively, higher than the figures of the previous week. Non-residents are also interested in Sberbank and fertilizer producers such as PhosAgro. All over the world, the fertilizer industry is experiencing a crisis due to a record increase in gas prices and is forced to reduce production, which pushes up the cost of products.
Bloomberg called Russian securities the most attractive in the world at the moment. However, the interest of foreign investors in the Russian stock market is unlikely to be sustainable, experts say. "It is obvious that there is a market demand for Russian risk, dictated by the desire to get exposure to oil and gas producers, so this surge of interest, unfortunately, can hardly be considered a stable medium-term trend," said Vladimir Vedeneev, manager of investment portfolios at Friedrich Wilhelm Raiffeisen.
The newspaper's data is based on a report by the investment bank BCS Global Markets. The shares of representatives of the raw materials industry are the most popular due to the rapid rise in oil and gas prices. First of all, foreigners became interested in the most liquid securities of Gazprom and LUKOIL. According to the Moscow Stock Exchange, the turnover with Gazprom shares at the end of the week amounted to more than 250 billion rubles — the highest figure in history. The amount of transactions with LUKOIL securities almost reached 50 billion rubles, and with ROSNEFT shares exceeded 61 billion rubles. This is 20 and 74 percent, respectively, higher than the figures of the previous week. Non-residents are also interested in Sberbank and fertilizer producers such as PhosAgro. All over the world, the fertilizer industry is experiencing a crisis due to a record increase in gas prices and is forced to reduce production, which pushes up the cost of products.
Bloomberg called Russian securities the most attractive in the world at the moment. However, the interest of foreign investors in the Russian stock market is unlikely to be sustainable, experts say. "It is obvious that there is a market demand for Russian risk, dictated by the desire to get exposure to oil and gas producers, so this surge of interest, unfortunately, can hardly be considered a stable medium-term trend," said Vladimir Vedeneev, manager of investment portfolios at Friedrich Wilhelm Raiffeisen.
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