Page 71 - RusRPTAug19

8.3 Stock market
8.3.1 Equity market dynamics
Russia’s equity markets have enjoyed a strong rally in the summer months. The leading RTS index broke above 1,400 for the first time in five years and the market has returned some 30% YTD.
Unlike previous rallies this one has been broad based lifting almost all the sectors evenly.
The rally is being driven by ongoing strong corporate earnings (see above), high dividend yields and fading concerns over the imposition of more US sanctions.
Some analysts are now predicting an overall market return of 25% this year. While individual names have made big gains in recent years, the overall market has been range bound.
71 RUSSIA Country Report August 2019 www.intellinews.com