Moscow. On 25 January. International investors are flipped from the stock of several of the most liquid Russian companies in less risky assets amid the heightened volatility of the stock market and the ruble, reported Bloomberg.
Foreigners out of Depository receipts faster than the Russian traders of shares traded on the Moscow exchange, which has led to a narrowing of spreads between these securities to a minimum over the last year levels.
The stock market is under pressure amid falling oil prices to 12-year low last week and the ruble is the worst dynamics among the currencies of developing countries.
The spread between the global Depositary receipts “Magnet” in London and promotions of the retailer in Russia declined Thursday to 22%, approaching the minimum for the year. GDR MegaFon and “Gazprom oil”, which is the last 12 months traded at a premium to the shares of the companies in Mourge, now are cheaper than local papers.
Foreign investors can quickly sell Russian stocks and invest in other emerging markets, promising relatively high returns with less risk, said the Agency Anastasia Levashova, participating in the management of stocks of developing countries by $450 million in Blackfriars Asset Management in London. Residents belong to the “roller coaster” on the Russian market more tolerant and are ready for a longer period to hold the shares, since they have much less alternatives, she said.