MOSCOW: Shares in Russia's largest oil company Rosneft rose to an all-time high on Tuesday after it posted better-than-expected results for the second quarter, while the rouble firmed against the dollar.
Rosneft shares reached 426 roubles per share in morning trading, gaining 1.6 percent on the day, outperforming the benchmark stock market MOEX which was up 0.54 percent by 0740 GMT.
Rosneft more than tripled its second-quarter net profit on higher production and oil prices.
The dollar-denominated RTS stock index was up 0.65 percent to 1146 points.
Russian stocks got a boost from Brent crude oil, a global benchmark for Russia's main export, that was up 0.41 percent at $74.16 a barrel.
The Russian rouble trimmed losses after days of declines caused by US lawmakers that on Thursday proposed new sanctions on holding Russian government bonds.
The rouble was 0.22 percent stronger against the dollar at 63.60 and up 0.03 percent at 73.60 versus the euro.
The BCS brokerage said in a note it saw the currency remaining stable at between 61.5 and 64.5 against the dollar until the autumn when US lawmakers are due to discuss further sanctions against Russia.
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