Russian stocks fell the most in five weeks on speculation OAO Gazprom, the nation’s biggest company, will delay a plan to pay dividends based on international reporting standards, curbing the size of the payout.
Russian equities traded in New York headed for their third straight monthly decline, the biggest stretch of losses in three years, as a tumble in Brent crude sent OAO Lukoil and OAO Gazprom Neft lower.
Alexei Kudrin, fired by Russian President Dmitry Medvedev as finance minister last week, told investors today he was taking a “time-out” before deciding on career plans and warned against rising budget spending.
Russian Prime Minister Dmitry Medvedev’s efforts to give his citizens a better night’s sleep and ease stress for the nation’s farm animals are undermining his push to make Moscow a global financial center.
Russian equities traded in New York fell, paring their biggest weekly advance in almost two months, as signs the global economy is slowing pushed crude oil to a two-month low. OAO Gazprom dropped the most in three weeks.
VTB Group and OAO Sberbank are diverging in the stock market by the most in 15 months on speculation the government will accept a lower price for shares in VTB to shore up the lender’s financial position.