Sberbank Sees Rise in Stocks

Sberbank Sees Rise in Stocks

Published: January 16, 2013 (Issue # 1742)

Stocks in Moscow climbed Monday as the share price of state-owned lender Sberbank rose above 100 rubles for the first time in 10 months.

Global markets have been rising since the U.S. government avoided the “fiscal cliff” that was predicted to have dire consequences for equities worldwide.

Sberbank and the country’s other major state-owned bank, VTB, have gained between 5 percent and 10 percent of their value this year.

The Moscow Exchange was up 1.05 percent on Monday at 1526.74.

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