Russia’s Ruble to Micex Decline After Ukraine Gas Talks Fail
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The ruble weakened the most in more than two weeks and the Micex Index fell as gas producer OAO Gazprom slumped on concern it won’t be paid for supplies to Ukraine after talks on energy prices failed.
Russia’s currency depreciated 0.7 percent to 40.1747 against Bank Rossii’s target basket of dollars and euros by 6 p.m. in Moscow, the most since May 30. The equities gauge ended a four-day rally and closed 0.5 percent lower at 1,493.93. The yield on ruble debt maturing February 2027 rose 16 basis points to 8.72 percent. State-controlled Gazprom, which has the largest weighting on the Micex, fell 0.8 percent after losing as much as 2.6 percent.