Volatile ruble slumps to 10-twenty-four hours low; Gazprom shares strain losses

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posée par NoemiBuxton (120 points) 03-Juillet

MOSCOW, July 1 (Reuters) - The Russian rouble plunged more than than 6% against the buck on Fri to its weakest even in 10 days, patch shares in Gazprom drawn-out losings after the petrol elephantine cancelled dividend payments, pressuring State farm animal indexes.

As of 1019 GMT, the ruble was 5.9% weaker against the dollar bill at 54.50, earliest striking its weakest detail since June 21 at 54.9250.
The up-to-dateness scaley its highest even in More than septenary days on Wed.

The social unit baffled 5.9% to trade at 56.85 versus the euro .

The likelihood of the ruble strengthening yesteryear 50 to the one dollar bill has eased, aforesaid Dmitry Polevoy, fountainhead of investing at Locko Invest, although richly good prices were encouraging the Russian vogue.

The rouble has suit the world's best-playacting currentness this year, boosted by measures taken to shell Russia's financial organization from Western sandwich sanctions imposed afterward Russian capital sent troops into Ukraine on Feb.

24.

The measures get included restrictions on Russian households withdrawing alien currency savings.

The rouble's military capability has inflated concerns among officials and export-centralised companies because it dents Russia's income from marketing commodities and other goods beyond the sea for dollars and euros.

Expectations that Russian authorities could refuge to foreign up-to-dateness interventions were putt pressure sensation on the rouble, Polevoy aforementioned.

DIVIDEND FALLOUT

Shares in Country vim giants Rosneft and Gazprom followed diverging courses as investors responded to the deuce companies' opposed dividend decisions.

Gazprom's shares were cut down 5.5%, extending heavily losses from the previous sitting after the throttle behemoth decided not to give dividends on finale year's results for the first off clock time in more than than two decades.

Meanwhile, shares in anoint John Major Rosneft, which approved 2021 dividend payments afterwards Thursday's close bell, were gaining ground, Rokok up 4.5%.

"There are few reasons for optimism in the Russian market," aforesaid Otkritie Search in a take note.

The good sectors of the marketplace will be nether press and the ruble May miss just about background earlier the weekend, Otkritie aforesaid.

Russian origin indexes were mixed, with the dollar-denominated RTS exponent shedding 4.3% to 1,286.8 points, striking its lowest German mark since mid-June.

The rouble-based MOEX State forefinger was 1% higher at 2,225.8 points.

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(Reporting by Reuters; Redaction by Gareth Bobby Jones and Sherry Jacob-Phillips)



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