Yandex’s Google Premium Shrinks on GDP: Russia Overnight - Bloomberg:
"Yandex NV (YNDX), Russia’s biggest Internet company, fell in New York, narrowing its premium to Google Inc. on concern the nation’s economic slowdown will reduce sales.
Shares of Yandex dropped 0.5 percent to $40.79 yesterday. The decline sent valuations to 36 times estimated earnings, or 53 percent above Google’s multiple, shrinking the widest gap in 17 months reached on Oct. 10. The Bloomberg Russia-US Equity Index of the most-traded Russian companies in the U.S. advanced 0.3 percent to 104.81, led by OAO Rostelecom. RTS stock-index futures fell 0.2 percent to 148,660 in U.S. hours."
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