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. Last Updated: 07/27/2016

Shares End Firmer

MOSCOW -- Russian shares ended with solid gains Tuesday as active buying by domestic investors, particularly in the energy sector, pushed a main market index and some key companies to 1999 highs.

The dollar-denominated Moscow Times Index of 50 leading shares closed 3.18 percent higher at 84.64 on turnover of $15.58 million. The RTS index rose 3.57 percent to 106.395.

Traders said Russian investors were driving the market while Western players were at best moving money out of oil companies and into utilities and telecoms. "Taking a close look at growth ... since Friday, it's apparent that it is all based on Russian market participants," said MFK Renaissance trader Dmitry Kryukov. "We're not seeing any new money coming in from the West."