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. Last Updated: 07/27/2016

Sibneft Up 5% as RTS Rebounds

Shares bounced back Thursday in line with Europe, with oil major Sibneft leading the sector higher a day after news of WorldCom's $4 billion balance sheet irregularity triggered a rout.

The RTS closed up 5.08 percent at 352.94 on turnover of $21.7 million.

"Today, after America pulled itself out of the hole it dug for itself, we moved up," said NIKoil trader Andrei Kukk.

Thursday's top performer was No. 5 oil producer Sibneft, which closed a massive 8.84 percent higher at $1.7850.

The company Tuesday posted 2001 net profits to U.S. generally accepted accounting principles that almost doubled compared with 2000, but the shares were pulled down by global depression Wednesday.

"We saw buying of all the oils overnight in the United States and today in Russia," said Martin Diggle, a director at Brunswick UBS Warburg. "The really compelling thing yesterday was that even when the markets looked grim globally we were seeing very little client selling."

RTS benchmark Unified Energy Systems closed with impressive gains of 6.99 percent at $0.1025.

"UES has been underperformimg recently and was due a rebound," Diggle said.

Derek Weaving, an analyst at Aton, said the UES's shares plunged in previous sessions given it is one of the market's most liquid and easy to sell off.

"The catalyst for a UES share price turnaround is not within UES or within Russia," Weaving said.