Feb. 15 (Bloomberg) -- Russian stocks rose for a third day, driving the benchmark gauge to the highest level in more than six months, as China resolved to help more with European bailout efforts, lifting equities globally.
The 30-stock Micex jumped 1.1 percent to 1,579.38 by the 6:45 p.m. close in Moscow, its highest since Aug. 5. Russian depositary receipts of United Co. Rusal, the world’s biggest aluminum producer, added 2.8 percent. Oil producer OAO Surgutneftegas gained 2 percent. The dollar-denominated RTS Index rose 1.1 percent to 1,661.36, its highest level since Sept. 8.
Emerging-market stocks climbed and oil, Russia’s main export revenue earner, rose as much as 1 percent to $101.76 a barrel in New York, advancing from a two-day low. China pledged to help resolve Europe’s debt crisis through the European Financial Stability Facility and European Stability Mechanism.
OAO Rosneft, the country’s biggest oil company, rose 1.7 percent to 218.94 rubles, while OAO Lukoil, Russia’s second- largest oil producer, advanced 0.8 percent to 1,879 rubles.
The Micex is up 13 percent this year and trades at 6.1 times analysts’ earnings estimates for member companies. Brazil’s Bovespa index is valued at 10.5 times estimated earnings, the Shanghai Composite Index trades at 9.7 times, and the BSE India Sensitive Index has a ratio of 16.2.
OAO Sberbank, Russia’s biggest lender, rose 0.7 percent to 97.06 rubles, its highest closing level since Aug. 4. Shares of VTB Group, Russia’s second-biggest lender, added 1.3 percent to 7.18 kopeks, a weekly high.
--Editors: Alex Nicholson, Peter Branton
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