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Russian Stocks Give Up Gains in Second Day of Limited Trading

  • Gazprom drops as EU, U.S. reach deal to cut fuel dependence
  • Russian equities trade second day after record shutdown
Updated on

Russian stocks fell on Friday, reversing most of the gains made in the previous session when the market reopened following a record long shutdown, while government measures to prevent a selloff helped limit the losses. 

The MOEX Russia Index closed 3.7% lower after climbing 4.4% on Thursday. Gas giant Gazprom PJSC led losses with a 12% slump after the U.S. and the European Union reached a deal to cut dependence on Russia for liquefied natural gas.