Russia Stocks Rebound From 6-Month Low on Oil, Goldman Forecast
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Russian stocks rebounded from their lowest in almost six months after crude advanced on speculation unrest in the Middle East will reduce supply and Goldman Sachs Group Inc. increased its oil price forecast.
The Micex Index of 30 stocks gained 1.6 percent to 1,598.82 by the 6:45 p.m. close in Moscow, paring yesterday’s 1.9 percent slide. OAO Rosneft, Russia’s biggest oil producer, and OAO Gazprom, the country’s gas export monopoly, both rallied more than 2.5 percent. OAO Sberbank, Russia’s largest bank, rose 2.2 percent. The dollar-denominated RTS Index added 2 percent to 1,800.04.