RCM bullish on Eastern Europe

The Vienna-based bank asserted that the Russian market in particular remained attractive over the longer term, despite the 50pc market downturn seen this year, the recent fall in the oil price and heightened political tensions. Angelika Millendorfer, head of the emerging markets equities team at RCM, said: "The most recent events have heightened investors' awareness of the political risks of their exposure in Russia and increased the risk premium for Russian investments. Nonetheless, prices in the meantime reflect an overabundance of negative scenarios. Oil and gas shares are a genuine b...