Lukoil Sinks on Concern Spending to Cut Payout: Russia Overnight

OAO Lukoil retreated from a 16-month high in New York on concern new investments outside Russia will limit increases in dividend payments from the nation’s second-biggest crude producer.

American depositary receipts of Lukoil fell 2.2 percent to $64.37 in New York yesterday, driving the first slump in eight days for the Bloomberg Russia-US Equity Index of the most-traded Russian stocks in the U.S. Futures expiring Dec. 17 on Moscow’s RTS Index lost 0.3 percent to 149,270 as oil dropped on concern over the U.S. budget. Polyus Gold International Ltd., Russia’s largest miner of the metal, slid the most in a month.