Russia Stocks Gain for Third Day as Rostelecom Advances
This article is for subscribers only.
Russian equities gained for a third day after crude oil rose and consumer stocks increased as investors speculated retailers may be allowed to boost their market share in the regions.
The 50-stock Micex Index added 0.8 percent to 1,481.84 by the close in Moscow, the highest level since Oct. 2. Consumer shares added 2.8 percent on average, the second-biggest advancer among industry groups. OAO Dixy Group, a supermarket chain, climbed as much as 6.4 percent on bets retailers may be allowed to boost regional market share. OAO Pharmstandard added 4.7 percent, while OAO Magnit, Russia’s biggest food retailer, increased 3 percent.