Tuesday, 6 September 2016

Russian stocks hit record as oil rises

Markets rose on Monday.

Stocks rose on the back of cooling US rate hike expectations. The Nikkei 225 rose 0.7 percent as Bank of Japan Governor Haruhiko Kuroda signalled its already massive stimulus programme would continue.

Russia's Micex Index also gained 0.7 percent, hitting a second consecutive record high, as oil prices rose after Saudi Arabia and Russia agreed to cooperate in world oil markets.

"Freezing production is one of the preferred possibilities, but it does not have to happen specifically today," Saudi Energy Minister Khalid al-Falih said.

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