Bloomberg News

Russia's Micex Climbs Most This Month, Led by Gazprom, Norilsk

November 14, 2008

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 wmauldin1@bloomberg.net.

To contact the editor responsible for this story: Daniel Hauck at dhauck1@bloomberg.net.


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