Analyst: MSCI may add Mail.ru shares to MSCI Russia Index in Nov

MOSCOW, Oct 12 (PRIME) -- Internet company Mail.ru Group could be included in the MSCI Russia Index in November, replacing Magnitogorsk Iron and Steel Works (MMK), company BCS Global Markets said in a research note on Monday.

“We see high probability of inclusion in the MSCI Russia Standard Index of local shares of Mail.ru. If the stock is added today, their weight would be amount to 1.7% in the Russia Standard Index and about 0.05% in the MSCI EM Index, which will trigger an inflow of passive funds of some U.S. $158 million,” the analysts said.

The index provider will announce results of quarterly rebalancing on November 10 with the change taking effect on December 1.

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