Russia Stocks Gain on Oil, UBS Lift to ‘Overweight’ as Risk Ebbs
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Russian stocks strengthened for the first day this week as climbing crude lifted the outlook for companies in the world’s biggest energy exporter and UBS AG upgraded the country’s equities to “overweight.”
The 30-stock Micex Index rose 0.4 percent to 1,555.11 by the 6:45 p.m. close in Moscow, paring yesterday’s 0.9 percent drop. OAO Lukoil, Russia’s largest oil producer, increased 1.3 percent. United Co. Rusal, the world’s biggest aluminum producer, surged 6.4 percent after the company’s deputy chief executive officer said demand for the metal will keep rising.