Surgut Leads Russian ADRs Rout on Sanctions Speculation - Bloomberg:
"OAO Surgutneftegas (SGTPY) plunged the most in four months, leading Russian stocks lower in U.S. trading as President Vladimir Putin rebuffed calls to end the war in Ukraine after the downing of an airliner, stoking concern that new sanctions could cripple the economy.
ADRs of Russia’s third-largest oil producer sank 7 percent in New York yesterday to the lowest since May 30. It was the worst performance on the Bloomberg Russia-US Equity Index, which dropped 3.4 percent to a two-month low.
The benchmark Micex index (INDEXCF) has tumbled 3.9 percent in Moscow since Malaysian Air’s flight MH17 went down on July 17 in an area of eastern Ukraine controlled by pro-Russian separatists, who have denied they shot it down. The crash killed all 298 people aboard. Stocks sank yesterday as Putin resisted growing calls from world leaders to end the war in the former Soviet republic."
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