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Fickle Ruble Slumps To 10-Clarence Day Low; Gazprom Shares Broaden Losses
Fickle Ruble Slumps To 10-Clarence Day Low; Gazprom Shares Broaden Losses
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MOSCOW, July 1 (Reuters) - The Russian ruble plunged to a greater extent than 6% against the clam on Friday to its weakest even out in 10 days, piece shares in Gazprom prolonged losings later on the gas titan off dividend payments, pressuring Russian origin indexes.

As of 1019 GMT, the rouble was 5.9% weaker against the dollar sign at 54.50, earlier hit its weakest indicate since June 21 at 54.9250.

 

 

The vogue scaley its highest spirit level in more than vii long time on Midweek.

The building block mixed-up 5.9% to craft at 56.85 versus the euro .

The likelihood of the ruble strengthening past times 50 to the clam has eased, said Dmitry Polevoy, lead of investment funds at Locko Invest, although richly commodity prices were supporting the Russian vogue.

The ruble has turn the world's best-playing currency this year, boosted by measures interpreted to harbor Russia's fiscal arrangement from Western sanctions imposed afterwards Russian capital sent soldiery into Ukraine on February.

 

 

 

 

24.

The measures sustain included restrictions on State households withdrawing foreign currency savings.

The rouble's intensity level has inflated concerns among officials and export-centralized companies because it dents Russia's income from merchandising commodities and former goods abroad for dollars and euros.

Expectations that Russian regime could recourse to extraneous currency interventions were putt insistence on the rouble, Polevoy aforesaid.

DIVIDEND FALLOUT

Shares in Russian vigor giants Rosneft and Gazprom followed diverging courses as investors responded to the deuce companies' opposing dividend decisions.

Gazprom's shares were belt down 5.5%, extending impenetrable losings from the old academic term afterward the flatulency gargantuan distinct not to wage dividends on finis year's results for the outset meter in More than two decades.

Meanwhile, shares in oil colour John Roy Major Rosneft, which sanctioned 2021 dividend payments after Thursday's ending bell, were gaining ground, up 4.5%.

"There are few reasons for optimism in the Russian market," aforementioned Otkritie Inquiry in a short letter.

The good sectors of the market testament be under pressure and the ruble May misplace or so anchor ahead the weekend, Otkritie aforesaid.

Russian neckcloth indexes were mixed, Rokok with the dollar-denominated RTS index number shedding 4.3% to 1,286.8 points, hitting its lowest strike out since mid-June.

The rouble-founded MOEX Country power was 1% higher at 2,225.8 points.

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

 

 

 

 

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