A very precise estimate for the Russian markets next year. One wonders aloud: "Why not 31% or 33%...or any number in between?
Russia's RTS May Surge to 3,000 in 2008, Banks Say (Update2)
By William Mauldin
Dec. 18 (Bloomberg) -- Russia's RTS Index will climb 32 percent to 3,000 by the end of next year as government spending shields the economy from a global slowdown, according to UralSib Financial Corp. and Renaissance Capital.
UralSib's Chris Weafer, the top-ranked Russian equity strategist in Thomson Extel's 2007 survey, and Renaissance's chief strategist Roland Nash recommended buying shares of OAO Gazprom, Russia's biggest natural-gas producer, and companies that will benefit from government investment in refining, smelting, railroads and electricity.