Russian Stocks Head for Biggest Monthly Drop in Eight on Oil
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Russian stocks rose, trimming their biggest monthly decline since September, as crude oil, the country’s biggest export earner, pared its sharpest monthly drop in more than three years.
The Micex Index added 1.4 percent to 1,326.70 by 11:20 a.m. in Moscow, bringing its montly retreat to 10 percent, the most since September. OAO Rosneft, Russia’s biggest oil company, rose 1.9 percent. OAO Sberbank, the country’s largest lender, retreated 0.2 percent after the ruble dropped to 33 per dollar in intraday trading for the first time in three years.