Russian shares climbed the most in more than three weeks and Asian stocks advanced after talks in Geneva produced an accord aimed at easing the conflict in Ukraine. Rubber slid to the lowest since 2009.
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.
Emerging-market stocks rose, with the benchmark posting its biggest weekly gain in more than two years, as Group of 20 finance ministers met to discuss Europe’s debt crisis and growth in U.S. retail sales exceeded forecasts.
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.
OAO Gazprom climbed to a two-week high in New York and Russian stock futures advanced on speculation the gas export monopoly will reserve about $6.5 billion a year for dividends and as expanding U.S. manufacturing boosted the outlook for global energy demand.