September 06, 2008

Gazprom shares surge by 6% after Mr Medvedev inauguration

Itar-Tass reported that following inauguration of President Mr Dmitry Medvedev on last week end, market quotations of the Russian gas giant Gazprom went up 6% at Moscow exchange markets.

Analysts say this growth has a direct link to Mr Medvedev's accession to the presidential office, as he for many years was chairman of the Gazprom board of directors.

The current value of Gazrpom's assets stands at RUB 8.28 trillion rubles or USD 347.6 billion. Its capitalization has now outstripped the leaders of global industries like China Mobile and General electric.