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Technology Stocks : Rostelecom (ROS) the Russian Telecom Company
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To: Kurt_Ruckus who wrote (72)5/3/1999 9:32:00 PM
From: Rob Shilling  Read Replies (1) of 80
 
Kurt, part of the move was due to the Barron's article, but there are several other things that are driving the Russian stocks:

1) Industrial production in Russia is up
2) Oil and natural gas prices are up
3) Budget revenues are much higher in April
4) The GKO restructuring is finished and some of the proceeds will
go into Russian equities
5) There has been an IMF deal and the Soviet debt restructuring is going forward
6) The ruble is strengthening
7) Central bank reserves have been steady recently even as Russia
pays foreign debt out of them
8) GDP in the first quarter came in at a better than expected -4%
9) The political situation is much better in Russia

...in short, the fundamentals are getting better in Russia. BTW, most Russian ADRs and closed end funds have crossed their 200 day moving average as of today (supposably a bullish sign).
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