Russian Stocks Advance to 13-Month High as Lukoil, Uralkali Gain
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Russian stocks advanced to a 13-month high, led by OAO Lukoil and OAO Uralkali, as investors bet valuations have fallen too low amid signs the ruble is stabilizing.
The benchmark Micex Index rose 0.8 percent to 1,530.4 at the close of trading in Moscow as 32 shares on the gauge climbed and 18 slid. The dollar-denominated RTS Index rose 1.9 percent for a fourth day of gains, its longest winning streak this month. The RTS has rebounded 4 percent from a five-year low reached last week.