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. Last Updated: 07/27/2016

Markets End Losing Streak

Russian stocks climbed for the first time in eight days as the MICEX Index snapped its longest losing streak in three years.

Norilsk Nickel and LUKoil led the advance as the MICEX jumped 5.8 percent to 1,661.99, posting its biggest gain in 19 months. All 30 of its members advanced. The RTS Index added 5.2 percent to 1,988.23.

Norilsk jumped 5.9 percent to 5,590.82 rubles on the MICEX. The stock has lost 14 percent this year.

RusAl may acquire Norilsk before the aluminum giant goes public in a deal that will increase the total value of the two companies by making them more internationally competitive, Vedomosti reported Thursday, citing RusAl co-owner Viktor Vekselberg.

LUKoil surged 7.4 percent to 1,732.90 rubles, its biggest gain in 20 months. The stock is down 16 percent this year.

Sberbank climbed 6.2 percent to 95.45 rubles. Net income will advance at least 20 percent this year, chief executive German Gref said in an interview.

"The correction has made Russian blue chip companies, such as Sberbank, extremely attractive," said Dmitry Vinogradov, an analyst at Citigroup.

Bank of Moscow jumped 9.5 percent to 1,151.68 rubles.

Rosbank, which Societe Generale agreed to buy, fell 0.5 percent to 171.18 rubles. SocGen on Thursday reported $7.2 billion in trading losses from unauthorized bets on stock-index futures.