Raiffeisen highlights Eastern Europe value

With prices having fallen by half this year, Eastern European stocks now look attractively valued, according to Raiffeisen Capital Management. In spite of the conflict with Georgia, the Russian market still boasts good fundamentals and has great prospects in the long term, it added. An eventful summer in Russia saw disagreement between the partners of British-Russian oil joint venture BP-TNK, as well as a 50% decline in the share price of coal and steel giant Mechel after Prime Minister Vladimir Putin accused it of large-scale tax fraud and disadvantaging its domestic consumers in favour ...