Russia Stocks Jump to 2-Year High as Oil Gains, Europe Woes Fade
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Russian stocks advanced to their highest in more than two years as oil rallied and some investors speculated the European Central Bank may step up measures to alleviate the region’s debt crisis.
OAO Gazprom and OAO Novatek, Russia’s two largest natural gas producers, both surged by more than 4 percent. Oil producer OAO Lukoil gained 3 percent, helping push the Micex Index 2.3 percent higher to 1,601.76 by the 6:45 p.m. close in Moscow, its highest since July 2008.