Russia's Micex Index (INDEXCF) climbed the most this month, led by OAO Gazprom and OAO GMK Norilsk Nickel.
The 30-stock Micex climbed 8.4 percent to 648.57 at 10:36 a.m. in Moscow, its biggest gain since Oct. 30. The dollar- denominated RTS rose 9 percent to 675.94. The gains followed a 9.1 percent jump yesterday in the dollar-denominated Russian Depositary Index (RDXUSD), a measure of Russian GDRs trading in London.
Gazprom, the world's biggest natural-gas producer, climbed 12.1 rubles, or 11 percent, to 119.50 rubles on the Micex Stock Exchange, its second gain this week. Crude oil jumped $2.08, or 3.7 percent, to $58.24 a barrel overnight in New York before slipping 27 cents today in after-hours electronic trading.
Norilsk Nickel, Russia's biggest mining company, added 8.6 percent to 2,561.21 rubles. Nickel for three-month delivery gained for a second day, adding 2.2 percent to $11,701 a metric ton on the London Metal Exchange.
To contact the reporter on this story: William Mauldin in Moscow at firstname.lastname@example.org.
To contact the editor responsible for this story: Daniel Hauck at email@example.com.