Russia Micex Rises to March High as Uralkali Surges Amid Bidding
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Russian stocks climbed to the highest level in six months as OAO Uralkali, the world’s biggest potash producer, increased amid speculation a conflict with Belarus will be resolved.
The Micex Index rallied 2.1 percent to 1,470.48 by the close in Moscow, extending last week’s 1.2 percent gain and rising to the highest since March 15. Uralkali surged 6.3 percent to 189.05 rubles. OAO Mechel, Russia’s largest producer of coal for steelmakers, jumped 1.8 percent to 112 rubles, while OAO Sberbank, the country’s biggest lender, added 3.4 percent to 99 rubles. OAO Gazprom, Russia’s biggest company and natural gas export monopoly, increased 2.4 percent to 145.52 rubles.