Russia stock rally splits investors and analysts

New York

STRATEGISTS from some of the biggest banks are growing increasingly bullish on Russian stocks after an oil- driven surge put them among the top performers in the world. Investors? Not so much.

Take UBS AG, for example. While equity strategists there turned bullish on Russia in July, the bank's asset management division, which oversees US$1 trillion for some of its richest clients, has a neutral position on the stocks.