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Markets

Russian rouble mixed in early trade; stocks higher

Published October 7, 2016 Updated October 7, 2016 08:14am

imageMOSCOW: The Russian rouble was mixed early on Friday, weakening against the dollar but gaining against the euro, while Moscow-listed stocks rose.

At 0735 GMT, the rouble was 0.3 percent weaker against the dollar at 62.34 but had gained 0.1 percent to trade at 69.22 versus the euro.

The euro fell against the dollar on global markets.

The Russian currency is up around 0.8 percent against the dollar this week, helped mainly by Brent crude oil hitting multi-month highs after OPEC agreed a provisional output-limiting deal last week.

Brent, a global benchmark for Russia's main export, was up 0.5 percent at around $52.8 a barrel on Friday.

Russia's dollar-denominated RTS share index was up 0.3 percent to 1,006 points, while the rouble-based MICEX was 0.4 percent higher at 1,992 points.

The mood on global equity markets was cautious ahead of the US monthly jobs report later in the day. If job creation is robust, it may cement the case for a US rate increase in December.

Copyright Reuters, 2016

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