Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

RTS Rises 4% as U.S. Rebounds

Unified Energy Systems led Russian shares to a higher close Monday, inspired by gains in Europe and the expectation of recovery on U.S. markets, traders said.

The benchmark RTS index closed up 3.98 percent at 335.66 points with reported turnover of $5.3 million. Technical problems delayed the RTS's opening, and traders were unsure if that low turnover figure was accurate.

The Reuters index of the ruble denominated MICEX ended up 4.59 percent at 1,336.18 points on turnover of 2.4 billion rubles ($80 million).

"The key thing for us is still whether or not the U.S. market goes up or down in today's session. Russia has no ideas of its own," said Oleg Martynenko, head of domestic trade at Alfa Bank.

In early dealings, the Dow Jones Industrial Average was ahead 3 percent and the Nasdaq up 2.8 percent. European bourses also moved higher.

UES closed 4.17 percent higher at $0.0950.

The other most active shares were oils, as Yukos jumped 6.98 percent to $9.20 and LUKoil ended up 3.28 percent at $14.82. Sibneft, closed 7.35 percent higher at $1.825 and Surgutneftegaz gained 4.35 percent to $0.3475.

"We're growing with the whole world -- America didn't have a bad close [on Friday] and now looks cautiously positive," said Yevgeny Kogan, director of the investment department at CentreInvest Securities.

"Russia has been sent lower on global woes, and any stabilization in the big markets could translate into a healthy bounce for Russian stocks," said Renaissance Capital trader Sam Barden. "We expect a quiet week with thin news flows and summer holidays."