Russian Stocks at Four-Month High as Oil Gains on Saudi Pledge
- RTS index reverses early losses with energy shares advancing
- Saudi Arabia Ready to Cooperate with OPEC, press agency says
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Russian stocks rose to a four-month high as prices of energy companies rose following comments from Saudi Arabia that it will cooperate with other producers to maintain stable oil prices.
The dollar-denominated RTS Index reversed earlier losses and rose 1.3 percent to 899.96 as of 3:43 p.m. in Moscow. The ruble pared declines of as much as 2 percent and traded down 1 percent at 65.4050 against the dollar.