Russian Stocks Gain Second Day as Oil Increase Boosts Rosneft
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Russian equities increased for the second day as crude oil climbed while U.S. lawmakers prepared for talks to avert spending cuts and tax increases that threaten the economy of the world’s biggest crude consumer.
The 50-stock Micex Index added 0.3 percent to 1,478.61 by the close in Moscow, with 37 stocks climbing, one little changed and 12 dropping. The gauge has added 5.5 percent this year. OAO Rosneft, Russia’s largest oil producer, advanced 1.3 percent. The stock has the fourth-largest weighting in the index at 6.1 percent. Preferred shares of oil producer OAO Surgutneftegas rose 0.7 percent.