OAO Lukoil, Russia’s second-largest oil company, jumped to the highest level in almost two weeks after first-quarter profit rose.
Lukoil gained 2 percent to 1,669.30 rubles by the close in Moscow, the highest price since May 15.
Net income grew 7.7 percent to $3.79 billion from $3.52 billion a year earlier, the Moscow based company said today in a regulatory filing. That beat the $3.10 billion average estimate of 12 analysts surveyed by Bloomberg News. Revenue rose 19 percent to $35.3 billion, while international sales climbed 21 percent to $29.3 billion, according to the statement. Crude oil prices advanced 4.2 percent in the first three months.
“Lukoil did a nice job boosting earnings on international exports,” Alexei Kokin, an analyst at UralSib Capital, said by phone.