For the last ten years, if I had a kopek for every time I had been told a China-Russia gas deal was imminent only to see it fade, I might be a Russian oligarch at this point.
Brazil suddenly has the eyes of global investors, let alone EM investors.
Russia is oversold. While Russia may not be the best longer term trading call, present conditions look oversold.
Petrobras (PBR, quote) stock on the move after earnings slump on higher import fuel costs. The stock has rocketed through the 200 day moving average this morning and hasn’t seen this type of strength through that average since January of 2012.
Taking a look at Gazprom (OGZPY, quote) versus Petrobras (PBR, quote). If 5 years ago you asked most investors globally which companies had the best chance to become the world’s first company to hit a $1 trillion market cap, Gazprom and Petrobras would have been in the top 3 or 4 names being bandied about.