Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Russia Stocks Rise First Day in 3 as Oil Gains, Greek Woes Ease

April 9 (Bloomberg) -- Russian stocks advanced for the first day in three as oil prices climbed and concern about Greece’s deficit receded, spurring appetite for riskier assets.

OAO Sberbank, Russia’s biggest bank, rose 2.3 percent and OAO Lukoil, the country’s second-largest oil producer increased 0.8 percent. The Micex Index added 1.4 percent to 1,496.88 at the close in Moscow, taking the gain this week to 1.1 percent. Oil has gained 0.5 percent this week and 7.5 percent this year.

Concern over a Greek default subsided as European Central Bank President Jean-Claude Trichet said a European Union and International Monetary Fund rescue plan probably won’t be needed. Crude, Russia’s key export earner, added as much as 76 cents in New York to $86.15.

Stocks pared some of their gains after Fitch Ratings downgraded Greece to BBB- from BBB+ with a negative outlook.

Equities in Russia, the world’s biggest energy supplier, advanced 8.8 percent in March as commodity prices rose.

To contact the reporter on this story: Jason Corcoran at Jcorcoran13@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.