MOSCOW: The Russian rouble traded steady on Wednesday, a hair's breadth from a near 10-week high versus the dollar marked in the previous session, while stocks headed to months-long peak amid rising oil prices and vaccine optimism.

At 0806 GMT, the rouble flat against the dollar at 75.46, not far from 75.3475, its strongest mark since Sept. 18 hit on Tuesday.

The unit lost 0.2pc to trade at 89.86 versus the euro.

Brent crude oil, a global benchmark for Russia's main export, was up 1.4pc at $48.52 a barrel, its highest since March 6.

U.S. president-elect Joe Biden's transition to the White House, reports that former Federal Reserve Chair Janet Yellen will become his Treasury Secretary, and positive news about COVID-19 vaccine all supported risk assets, said Dmitry Polevoy, head of investment at Locko Invest.

The session could see high trading volumes ahead of the Thanksgiving holiday in the United States, but investors may prefer to lock in profit after recent gains and that could mean a slight correction, Polevoy said.

Russia's finance ministry will offer just one OFZ treasury bond at auction later on Wednesday, testing appetite for debt, which is popular among foreign investors due to its yield, and could support the rouble.

Russia's stock market is on track to reach record highs next year as vaccines and stimulus measures gradually heal the damage wrought by COVID-19, a Reuters poll showed.

The dollar-denominated RTS index was up 1.5pc to 1,305.9 points, its highest since Aug. 20.

The rouble-based MOEX Russian index was 1.1pc higher at 3,127.9 points, at a more than nine-month peak.

Shares in oil heavyweight Lukoil were overperforming the wider market after the company reported a third-quarter profit.

GDRs in Ozon were up more than 3pc in Moscow, a day after the online retailer raised nearly $1 billion in its upsized initial public offering and shares soared more than 40pc on debut.