RTS stable ahead US rate verdict. (Stock markets).(Statistical Data Included)

Russian shares moved little amid hopes that the US would cut interest rates to boost the economy.

But Russian energy stocks put in a better performance, particularly those in the oil sector, which were helped by a fresh rise in the value of crude. News from Russia's customs committee that the country's total crude oil exports swelled to 88.8mn t (3.58mn b/d) in the first half of this year--up by a hefty 14pc on the first six months of 2001--also helped boost sentiment. The RTS closed 2.85pc up on the week at 335 points.

A greater-than-expected increase in oil output for the first half of 2002 helped to lift Lukoil shares by 4.6pc to $15.85. The company's value was also supported by news that Yukos may be prepared to join it in a project to build a new crude terminal at Murmansk.

Sibneft's share value rose by 5.3pc to $1.89 after it succeeded in winning a long-term contract to supply the Moscow Oil Refinery (see p9). The move is part of a plan to increase its shareholding in the plant and boost its share of the capital's $5bn fuel market.

Tatneft shares leapt by 8.7pc to 63 cents …