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. Last Updated: 07/27/2016

Russian Stocks Edge Up 1.34%




Russian share prices made small gains Tuesday in trade that brokers said was subdued but benefitting from recent increases in oil prices.


"It took a while for the market to react, but growth in crude oil prices was being felt today," one Russian trader said.


Yukos shares led Tuesday's $4.04 million turnover on The Moscow Times Index of 50 leading shares, closing up 14 percent at $0.040.


Bad weather in the United States, which increased demand for oil, and talks between Saudi Arabia and Iran combined to push the price of benchmark Brent crude oil to around $11.60 per barrel from well below $10 earlier this year.


Tuesday's MT Index turnover, though down from last month's highs of about $15 million, was fairly solid for the post-crisis period when daily volumes often failed to break $1 million.


The MT index finished up 1.34 percent at 52.79, while the RTS index rose 1.52 percent to 73.71.