Oil Retreat Sinks ADR Valuations Below Peers: Russia

Russian stocks traded in New York fell, pushing valuations to the lowest versus emerging-market companies in four months, as oil tumbled to a six-month low.

The Bloomberg Russia-US Equity Index of the most-traded Russian companies in the U.S. declined to a seven-month low, losing 11 percent to 83.71 in the week. Futures expiring in June on Moscow’s dollar-denominated RTS Index slid 2.9 percent to 127,010 on May 18. OAO RusHydro, Russia’s largest hydropower producer, retreated 20 percent to $2.46 in New York last week, widening the discount to the company’s Moscow-listed shares to 4.6 percent, the most in three days.