Renaissance Capital advises investors in Lukoil (LKOH.RS) to move into Gazprom (GAZP.RS) instead. "We believe that after Lukoil's excellent recent run, a switch to Gazprom would make sense," says Tom Mundy.
Lukoil has risen more than 20% since mid-March compared to a 3.7% year-to-date slide for Gazprom, despite the latter rallying of late. "(Gazprom's) recent run, on the back of high commodity prices, is pushing it to the position of the world's fourth-largest company, taking the place of GE," notes Mundy.
Lukoil and Gazprom both flat at $90.5 and $13.52. (AJL)