Russian stocks are headed for the best performance among the world’s major equity markets for a second straight month as President Vladimir Putin pulls back from the confrontation in neighboring Ukraine.
Alrosa declines 6.5% in Moscow, biggest drop since March 14, vol. 254% of 3mo. daily avg. * Closes at RU41.452 * Stock has 16 buy recommendations, 4 hold, 1 sell * NOTE: Alrosa May Face Risk With New Govt Overseer, Deutsche Bank Says NSN N6QK766TTDU2 <GO> ** Dep. PM and Far East Development Minister Yuri Trutnev opposed re-appointment of Alrosa CEO Fyodor Andreev, has pushed for development of cutting, polishing center, while Alrosa now focuses on rough diamonds: Deutsche Bank * BCS remain buyers of stock, recommend buying during selloff * “A material shift into cutting and polishing, above what the company does now, will not have material financial or operational impact in the next 5-10 years as Russia lacks the human capital and local infrastructure,” Luis Saenz, head of equity sales and trading at BCS, said in e-mailed note * Russian Federation holds ~44% of co., Republic of Sakha 25%