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Russian stocks are traded with 40-50% discount — Moscow Exchange CEO

January 20, 19:22 UTC+3 DAVOS
No fleeing of foreign investors is taking place, Chief Executive Officer of the Moscow Exchange Alexander Afanasyev said at the World Economic Forum in Davos
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Moscow Exchange CEO Alexander Afanasyev

Moscow Exchange CEO Alexander Afanasyev

© Anton Novoderezhkin/TASS

DAVOS, January 20. /TASS/. Stocks of Russian companies are currently traded with the discount of 40-50% and no fleeing of foreign investors is taking place, Chief Executive Officer of the Moscow Exchange Alexander Afanasyev said on Wednesday at the World Economic Forum in Davos.

"Russian stocks are traded with the discount of 40-50% depending on the sector; the situation is better in the IT sector," Afanasyev said.

Stereotypes in the West regarding the Russian stock market often run contrary to facts, Chief Executive of the Moscow Exchange said. "The stereotype number one is that foreign investors are fleeing from Russia. I can not confirm that. The share of nonresident accounts for trading in stocks is growing. It was at the level of 38% in 2013 and is 44-48% now", Afanasyev said.

Russian stock index denominated in national currency rose 26% last year, having been the most quickly growing index across developing economies, Afanasyev said. Russia was also the second developing market after Brazil in terms of dividends payment level, he added.

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