Zlata Garasyuta, Maya Dyakina and Lidia Kelly

Russian shares jumped to one-month highs on Wednesday, led by selected metals stocks after a feud over control of miner Norilsk Nickel was resolved, and by Russia's top bank Sberbank

following strong earnings.

The rouble firmed, underpinned by relatively strong oil prices.

At 1400 GMT, the rouble-denominated MICEX share index was up 1.5 percent at 1,433.1 points. The RTS dollar index gained 1.5 percent to 1,466.1 points.

The MICEX metals and mining index rose 2.1 percent, as comments from China's new leader boosted global growth expectations and fuelled a rally in commodity stocks.

Aluminium producer RUSAL extended gains, with its Moscow-listed depositary receipts rising 4.7 percent after co-owner Oleg Deripaska and other oligarchs ended a four-year feud over control of Norilsk, the world's biggest nickel and palladium miner.

Shares in Norilsk rose 5.2 percent. Analysts cited prospects of higher dividend payouts by the firm, but said new management would have to improve efficiency to trigger a sustained rally in the stock.

Shareholders of Norilsk are discussing the payout of dividends of $10 billion over a three-year period from 2012-2014, two sources close to different shareholders said.

"Before, RUSAL benefited little from the ownership of Norilsk shares and now, the company's profit will increase slightly due to the increased dividends," said Maxim Zotov, a trader at Metropol investment company.

Market heavyweight Sberbank rose 1.5 percent after it reported stronger-than-expected nine-month profits.

The market kept a close eye on economic factors, as surveys showed services sector growth slowed significantly in China last month and marginally in Russia.

The rouble gained 0.1 percent to 30.80 against the dollar, supported by higher overnight lending rates, now oscillating around 6.25 percent to 6.50 percent after staying closer to 6 percent in recent months.

Rates spiked at the beginning of the week due to a liquidity deficit that should ease once government cash hits the market this week, analysts said.

"Historically, December has been hard for the rouble and it usually weakens," Anton Tokmakov, head of forex operations at Absolut Bank wrote.

"The dollar ...(may) have chances to firm against the rouble when the support from higher overnight money rates disappears."

The rouble was up 0.4 percent to 40.26 against the euro, and firmed 0.2 percent to 35.06 against the dollar-euro basket.

http://www.reuters.com/