Gazprom Dividend Wagers Help Lift Russian Stocks Toward Record
- Natural-gas export monopoly climbs after 50% payout order
- Ruble little changed as price of crude oil falls 1.9 percent
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Russian stocks edged toward a record high as the possibility of a bigger dividend payout at Gazprom PJSC stoked appetite for the natural-gas export monopoly’s shares, helping lessen the impact of a decline in oil prices.
Gazprom jumped as much as 4.1 percent to 162.30 rubles per share, the highest intraday level in more than a year. The 50-stock Micex Index, where Gazprom has the biggest weighting at 16 percent, added 1.1 percent to 1,951 at 5:50 p.m. in Moscow, trading 0.7 percent off a record. The ruble was little changed.