OAO GMK Norilsk Nickel, the world’s largest nickel producer, advanced the most in more than a month after Indonesia said it will ban nickel-ore exports in 2014, signaling the price of the metal may rise.
Russian stocks climbed for the first time in five days as a technical indicator signaled declines may be close to overdone. OAO Dixy Group, the nation’s third-largest food retailer, rose after earnings beat estimates.
In August, Russian President Vladimir Putin flew to the Black Sea resort of Sochi, where his country is spending a record $48 billion on the 2014 Winter Olympics. A regular visitor, with an official residence in town, Putin watched mixed-martial-arts contests at Oblaka nightclub with Russian Prime Minister Dmitry Medvedev and Kazakh President Nursultan Nazarbayev.
Billionaire Mikhail Prokhorov’s Onexim Group agreed to buy Suleiman Kerimov’s stake in OAO Uralkali, bolstering prospects that a standoff over a global marketing venture for key crop nutrient potash will be resolved.