Retired many years ago
- 19 July 2006
The ruble-based MOEX Russia index closed below the 2,200 mark on Thursday, trading in a tight range since late October, as investors continued to monitor developments over a price cap on Russian crude. Russia's Urals oil has been changing hands with an almost 40% discount to Brent, days after an...
The ruble-based MOEX Russia Index closed 4.1% higher at 2,400 on Wednesday, extending the two-month high hit in the previous session amid a 25% surge for Gazprom after the natural gas giant’s board members recommended dividends for the first half of 2022.
Despite not releasing official numbers, the state-backed company’s CEO Alexey Miller said that earnings for the period will exceed the record-setting performance from 2021, as surging natural gas prices more than offset the decline in exports.
In its latest move, Gazprom temporarily suspended flows to Europe through the Nord Stream 1 pipeline, citing maintenance issues and further reduced supplies to France due to contract disagreements.
Banks also booked sharp gains, led by a near 4% jump for Sberbank. On the month, the MOEX Russia Index added more than 8%.