Micex Climbs to 2014 High as Goldman Bets on Equities
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Russian stocks rose to the highest level this year as Goldman Sachs Group Inc. said equities are its “preferred asset” in the nation, offsetting concern China’s slowing growth may crimp commodity demand.
The Micex Index climbed 0.6 percent to 1,495.36 by the close in Moscow, trimming its drop this year to 0.6 percent. OAO Gazprom, the natural-gas export monopoly with the biggest weighting on the Micex at 14 percent, jumped 1.9 percent to 139.75 rubles.