Stocks in Russia have risen to a 3-month high, even as the strength of its economy remains in doubt | Businessinsider

Russian stocks on the Moex Index in Moscow are rising. Sefa Karacan/Anadolu Agency/Getty Images

Energy giants Gazprom and Lukoil have both boosted the index, which is dominated by oil and gas companies, this week. Gazprom recommended paying an $0.84-per-share dividend for the first half, sending its stock up 25% on Wednesday.reporting that some analysts expect the company to start paying a dividend again.put in place following Vladimir Putin's invasion of Ukraine in late February.

The consensus estimate of economists polled by Bloomberg is that Russian gross domestic product will drop 7.3% this year in a major blow to the economy. Yet analysts were predicting a 10% contraction in April.

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