Energy gives the power to surging markets in Russia

Peter the Great, he may not be. But some investors welcome the reign of Vladimir Putin as markets in Russia have been more stable since he assumed his country’s presidency at the turn of the millennium.

Even though his US counterpart George Bush has been attacking his country’s democratic record and it looks as if the Group of Eight summit in St Petersburg this July could be tense, fund managers remain keen on Russia. They hope to capitalise on the rising price of energy by pumping money into oil and gas companies there.

Financial Times