Moscow - Russia's MICEX index surged by over 11 per cent Tuesday following gains on world markets and boosted by higher oil prices, prompting regulators to change the threshold for automatic market closures to minimize what have become chronic interruptions in trading.
The ruble-denominated MICEX was up 11.02 per cent to 739.78 points at 2:05 pm (1005 GMT) after an hour-long -suspension in morning trading.
The rise on the MICEX, where most Russian stocks are traded, was led for a second day running by banks Sberbank and VTB Group on news of government loans to banks as well as Russian oil majors Rosneft and Lukoil, trading on a rise in global oil prices.
The dollar-denominated RTS added 6.9 per cent to 845.81 points by 2:05 pm.