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. Last Updated: 07/27/2016

UES, Oil Push RTS Up 2.04%

Shares closed higher on the coat-tails of national power grid Unified Energy Systems and oil major LUKoil on Tuesday as both blue chips surged on the expectation of good news.

The benchmark RTS index ended 2.04 percent higher at 353.60 on turnover of $17.4 million. The Reuters index of the ruble-based MICEX rose 2.76 percent to 1,539.18 on 4.7 billion rubles ($150 million) in turnover.

The Reuters-MICEX composite rose 0.11 percent to 887.71.

UES, whose head Anatoly Chubais is in Europe meeting investors, closed up 5.37 percent at $0.1178.

"People are expecting some positive news from Chubais's trip … there is a spark of optimism," said Konstantin Shapsharov, a salesman at Alfa Bank.

Chubais said in September there would be a freeze on UES asset sales until shareholders agree on how to value them. Shareholders are worried that a planned carve-up of the energy monopoly could turn into a fire sale of power-generating assets.

LUKoil closed up 2.43 percent at $16.850 on rumors of structural changes that could result in higher efficiency, although some traders were waiting for more evidence.

"Justifiably or not, the market is buying into these rumors," Troika Dialog said in a note to clients.

Oil major Yukos saw more modest growth, closing up 0.56 percent at $9.020, while oil major Surgutneftegas ended up 1.96 percent at $0.3380.