Russia Stocks Rise Second Day as VTB Rebounds From Losses - Bloomberg

Russia Stocks Rise Second Day as VTB Rebounds From Losses - Bloomberg:



"Russian stocks gained for a second day as VTB Group and OAO Sberbank partially recouped losses sparked by concern the government may introduce capital controls if outflows rise.



The dollar-denominated RTS Index (RTSI$) rose 0.3 percent to 1,126.85 by 10:47 a.m. in Moscow. The Micex Index (INDEXCF) climbed 0.3 percent to 1,414.98. VTB, the nation’s second-biggest lender, jumped 2 percent, after dropping 3.1 percent yesterday, while Sberbank added 0.4 percent. AFK Sistema, which had lost two-thirds of its market value last month, gained 5.1 percent, while preferred shares of OAO Bashneft climbed 3.2 percent.



The central bank is weighing temporary capital controls if the flow of money out of the country intensifies, according to two officials with direct knowledge of the discussions. Russian shares, under pressure from U.S. and European sanctions, retreated last quarter, with the RTS entering a bear market, as Sistema’s owner Vladimir Evtushenkov was put under house arrest Sept. 16 amid a probe into alleged money laundering."



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