Futures Gain as Valuations Trump Blasts: Russia Overnight - Bloomberg

Futures Gain as Valuations Trump Blasts: Russia Overnight - Bloomberg:

"Russian stock futures gained and contracts on the nation’s biggest company, OAO Gazprom, rose as the cheapest valuations among emerging-market equities outweighed concerns bomb blasts in the country’s south will hurt economic growth.

RTS stock index futures expiring in March increased 0.1 percent in U.S. hours to 144,590 after the 30-stock Micex Index (INDEXCF) added 0.6 percent to 1,504.08 in Moscow yesterday. Gazprom futures increased 0.8 percent. The Bloomberg Russia-US Equity Index of the most-traded Russian companies in New York slipped 0.2 percent to 101.49 yesterday as OAO Mechel rallied 5.3 percent.

Suicide bombers at a train station and on a trolleybus killed more than 30 people over 24 hours in the southern city of Volgograd, raising the security threat less than six weeks before Russia hosts the Winter Olympics. Stocks on the benchmark Micex Index trade at the cheapest valuations among 21 emerging-market economies monitored by Bloomberg, with the average multiple at 4.7 times forward earnings, less than half the 11.8 level for the MSCI Emerging Markets Index."

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