Russia's month-end taxes support rouble

The Russian rouble firmed slightly on Monday, buoyed by month-end tax payments that usually prompt export-focused companies to convert their foreign currency revenues to meet local duties.

Shares in Russia's biggest mobile phone operator MTS outperformed the broader market by gaining 3% on the day after the company said it had agreed to sell its Ukrainian business.

The rouble gained 0.2% to 63.77 against the US dollar by 0747 GMT and also firmed 0.2% to 70.31 versus the euro.

Trade talks between the United States and China remained in focus. Keeping hopes for a breakthrough in the talks alive was the weekend announcement of Chinese plans for improving protection of intellectual property rights - seen as a move to address a sticking point between the parties. While pricing in global risk perception driven by the US-China trade issues, the rouble received support from Russian taxes that could amount to around 1.7 trillion roubles ($26.63 billion) in November, according to a Reuters survey of analysts.

Russian stock indexes traced oil prices higher. The dollar-denominated RTS index was up 0.3% to 1,460.1. The rouble-based MOEX Russian index climbed 0.3% to 2,955.7.