Russian Stocks Drop as Gazprom to Sberbank Fall on Ukraine Woes
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Russian stocks slid to the lowest in almost three weeks as OAO Gazprom fell amid concern Ukraine will default on its debt payments and following a report President Vladimir Putin ordered military exercises.
The Micex Index lost 0.6 percent to 1,469.51 by the close in Moscow, the lowest since Feb. 6. Gazprom, which sends more than half of its European gas exports via Ukraine, dropped 1.9 percent to 143.50 rubles, the lowest since Feb. 5. OAO Sberbank retreated 1.9 percent to 92.35 rubles, while VTB Group decreased 0.8 percent to 4.42 kopeks, slipping for a third day.