Andy Smith, Sberbank CIB’s head of equity research, said he is leaving the Russian investment bank after signing off on a corporate governance report using unattributed material from a competitor’s research note.
President Vladimir Putin is battling investor skepticism to woo foreign executives descending on his hometown today as Russia’s economy faces a risk of recession and a crackdown on critics scares off top intellectuals.
Russia’s winning bid to host soccer’s 2018 World Cup is driving the biggest bond rally in five months for its largest steelmakers as the government prepares to spend at least $9.6 billion on stadiums and expand airports and roads.
Russian stocks will surge next year, sending the RTS Index up 38 percent, as the country wins World Trade Organization membership and the government reduces control of the economy, according to Troika Dialog.
Investors are too bearish on Russian equities and should bet on a rally using options as Vladimir Putin will probably win the presidential election and implement reforms to stay in power, according to Societe Generale SA.