Shares in Russian energy giants Rosneft and Gazprom followed diverging paths on Friday as investors reacted to the two companies' contrasting dividend decisions, while the ruble fell sharply from seven-year highs hit this week.
As reported by Reuters, at 10:16 Cyprus time, shares of gas giant Gazprom fell 6,9%, extending heavy losses from the previous session, after it decided not to pay a dividend for last year's results for the first time in more than two decades.
Meanwhile, shares in oil major Rosneft, which approved dividend payments for 2021 after Thursday's close, gained ground, rising 4,6 percent.
The ruble was 2,7% lower against the dollar at 52,84 and had lost 2,2% to trade at 54,85 against the euro.
The ruble has become the world's best-performing currency this year, boosted by measures taken to protect Russia's financial system from Western sanctions imposed after Moscow sent troops into Ukraine on February 24.
The measures included restrictions on Russian households withdrawing foreign currency savings.
The strong ruble has raised concerns among officials and export-focused companies because it reduces Russia's income from selling commodities and other goods abroad for dollars and euros.
Russian stock indexes fell, extending Thursday's losses.
The RTS dollar index fell 2,7% to 1.309,4 points. Russia's ruble-based MOEX index was 0,3% lower at 2.198,3.
Source: KYPE