Feb. 17 (Bloomberg) -- Shares of OAO RBC Information Systems, which operates a newswire and a business TV channel in Russia, rose to a record after Brunswick UBS recommended buying the shares on optimism economic growth in the former Soviet state will boost demand for Internet technology and advertising.

RBC shares jumped 5.8 percent to 92.70 rubles as of 4:38 p.m. in Moscow. About 728,000 shares were exchanged, more than three times the daily average in the last six months. The shares have gained 9 percent in the last four trading days.

Brunswick UBS, a unit of Switzerland's UBS AG, started its coverage of RBC stock with a "buy" recommendation today and is forecasting the shares will rise to about 110 rubles in the next 12 months, according to a note sent to clients today. The company's shares are attractive because the industries from which it generates revenue are expected to grow faster than the nation's economy, the brokerage said.

"RBC is the only public Russian company providing investors with exposure to the domestic media and IT sectors, both of which we expect to grow ahead of Russia's gross domestic product," Brunswick UBS said. RBC has "a firm foothold in one of the most attractive markets in Russia."

Advertising revenue in Russia rose about 30 percent in the first half of 2004 to as much as $1.6 billion, Brunswick UBS said in the note. Russia's economy is expected to grow about 6 percent this year the seventh year of expansion.

Moscow-based RBC was created in 1993. RBC first sold shares to the public in April 2002, raising $13.3 million in the nation's first domestic initial public offering. The company last year raised $28.5 million in a secondary sale of shares.

The company's board in December approved plans to set up a depositary receipts program to encourage trading and attract international investors.