Russia Stocks Rise Third Day as China Optimism Lifts Oil
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Russian equities climbed for a third day to the highest in almost a month as oil, the nation’s chief export earner, rose and Chinese economic data stoked investor appetite for riskier assets.
The Micex Index added 1.1 percent to 1,421.97 by the close in Moscow, the strongest level since Nov. 7. Financial, telecom and oil gas company stocks rose at least 1.1 percent on average. OAO Tatneft, a regional oil producer, increased 1.8 percent, while OAO Novatek, the largest independent natural-gas producer, rose 1.9 percent. OAO Mobile TeleSystems, Russia’s biggest phone operator, climbed 2.1 percent. Russia’s dollar-denominated RTS Index increased 1.1 percent to 1,451.69.