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. Last Updated: 07/27/2016

Buying Buoys Shares

MOSCOW -- Strong local and foreign buying buoyed Russian shares Friday, but traders said any marked market gains were unlikely in the near future.

The dollar-denominated Moscow Times Index rose 3.14 percent to 152.86 on turnover of $35.94 million.

The key RTS1-Interfax shares index ended 5.61 percent higher at 202.94 on volume of $33.42 million. The broader Reuters Russian composite firmed 3.86 percent to 1,328.52.

A Western bank trader said the war in Chechnya and the possibility that exporters could be told to sell hard currency revenue was worrying investors.