MOSCOW: The Russian rouble gained slightly on Wednesday on higher oil prices, but Moscow-listed stocks followed global equities lower after a media report said the European Central Bank would probably slow its bond purchases.
At 0735 GMT, the rouble was 0.3 percent stronger against the dollar at 62.48 and had gained 0.2 percent to trade at 70.09 versus the euro.
Brent crude oil, a global benchmark for Russia's main export, was up 1.3 percent at around $51.5 a barrel after a report that U.S. fuel inventories may have fallen for a fifth straight week.
The Russian currency is up around 0.5 percent against the dollar this week after hitting a 2016 high on Monday.
It has mainly been lifted by gains in oil, but also by the attractiveness of Russian assets for developed-market investors starved of high yields.
Russia's dollar-denominated RTS share index was down 0.5 percent to 995 points on Wednesday, while the rouble-based MICEX was 0.5 percent lower at 1,975 points.
The losses were attributed to a Bloomberg report on Tuesday which said the ECB would probably wind down its 80 billion euro ($90 billion) monthly bond purchases gradually before ending its quantitative easing programme.
Although the ECB denied its decision-making body had discussed reducing the pace of its monthly bond buying, the report sent ripples through global markets nervous about the prospects of reduced central bank stimulus.
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